Nifty heading towards 9000, EOD

• FII’s sold 0.08 K contract of Index Future worth 56cores ,2.1 K Long contract were added by FII’s and 2.9 K short contracts were added by FII’s. Net Open Interest increased  by 5.1  K contract, so rise in market was used by FII’s to enter long and enter  shorts  in  Index futures. What separates amateur traders from the pros?

•  As discussed last Analysis   Now 8951 will become the new 8577. Closing above it Nifty can move all the way towards 9045/9189/9334,Closing below it 8856/8716/8622 are the targets for the September series.  8910 will play very crucial role in next 2 trading session as break of that can see quick fall towards 8820 level and holding the same bulls will make one more attempt for a close above 8951 and move towards the sacrosanct level of 9000. Low made today was 8896 and nifty recovered to close just above 8951 level. Now Bulls will be able to materialize and close nifty above 9000 level as we approach weekly closing tomorrow.  Bank Nifty pause in uptrend,EOD Analysis

 

• Nifty Sep Future Open Interest Volume is at 3.43 core with addition of 3.4 Lakh with decrease in cost of carry suggesting short  position were added today, NF Rollover cost @8686, closed above it rallied 250 points.
  

• Total Future & Option trading volume was   at 4.67 Lakh core with total contract traded at 0.93 lakh , PCR @1.03 , Trader’s Resolutions for the New Financial Year 2016-17

• 9000  CE  is having Highest OI  at 55.8  lakh, resistance at 9000 .8500/9000 CE  liquidated 0.27  lakh so finally bears gave up on 8900 .FII bought 2.3  K CE longs and 2.2 K shorted CE were covered by them .Retail sold 52 K CE contracts and 18.9 K shorted CE were covered by them.
  

• 8600 PE OI@60.6 lakhs having the highest OI strong support at 8600. 8300-8800 PE added 9.8 Lakh in OI so bulls making strong base near 8700-8750 zone .FII bought 7.3 K PE longs  and 13.8 K PE were shorted by them .Retail sold 71.5 K PE contracts and 50 K shorted PE were covered by them.

• FII’s bought 111 cores in Equity and DII’s sold 587 cores in cash segment.INR closed at 66.42
  

• Nifty Futures Trend Deciding level is 8963 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 8801 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level

Buy above 8955 Tgt 8976,9000 and 9040 (Nifty Spot Levels)

Sell below 8930 Tgt 8913,8895 and 8870 (Nifty Spot Levels)

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