Nifty forms DOJI in Gann Resistance zone, EOD Analysis

• FII’s bought  5 K contract of Index Future worth 347 cores ,7.6 K Long contract were added by FII’s and 2.6 K short contracts were added by FII’s. Net Open Interest increased  by 10.3 K contract, so rise in market was used by FII’s to enter long and enter shorts  in  Index futures. Why Traders Suffer from Need to be in Trade Syndrome

•  As discussed last Analysis   Bulls need a close above 8760 for next round of upmove else this rally will get sold into, as seen in below gann change we are near supply zone. Above 8756 another move towards 8888/8968, Unable to close above it 8700/8650 on cards. Nifty close above 8756 which is positive sign holding 8756 nifty will approach the gann line of resistance at 8800. Close above 8800 can see fast move towards 8840/8888. There is lot of supply in this zone, Sustaining below 8750 for an hour can quickly push index down to 8690/8656.  Bank Nifty forms DOJI after RBI Event, EOD Analysis

• Nifty Oct Future Open Interest Volume is at 2.21 core with addition of 2 Lakh with decrease in cost of carry suggesting short  position were added today, NF Rollover cost @8777, closed above it.
  

• Total Future & Option trading volume was   at 3.24 Lakh core with total contract traded at 1.4 lakh , PCR @0.94 , Trader’s Resolutions for the New Financial Year 2016-17

• 9000  CE  is having Highest OI  at 56.8 lakh, resistance at 9000 .8500/9000 CE  added 4.3 lakh so bears added aggressively in range of  8800-8900 CE  .FII bought 8.5 K CE longs and 0.6 K CE were shorted by them .Retail bought 41.2 K CE contracts and 41.2 K CE were shorted by them.
  

• 8600 PE OI@42.4 lakhs having the highest OI strong support at 8600. 8500-9000 PE added 16.6 Lakh in OI so bulls added in range of 8600-8700 .FII bought 7.2 K  PE longs  and 1.1 K shorted PE  were covered by them .Retail bought 60.9 K PE contracts and 42.8 K PE were shorted by them.

• FII’s bought 344 cores in Equity and DII’s sold 172.23 cores in cash segment.INR closed at 66.46
  

• Nifty Futures Trend Deciding level is 8791 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 8716 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level

Buy above 8790 Tgt 8810,8835 and 8860 (Nifty Spot Levels)

Sell below 8760 Tgt 8745,8720 and 8695 (Nifty Spot Levels)

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