- FII’s sold 17 K contract of Index Future worth 1117 cores ,8.2 K Long contract were liquidated by FII’s and 8.7 K short contracts were added by FII’s. Net Open Interest increased by 0.5 K contract, so rise in market was used by FII’s to exit long and enter shorts in Index futures. Muhurat Trading: Vows Traders should make to avoid loss in coming Year
- As discussed last Analysis Now bulls will become active only above 8656 for a move till 8752/8800 High made on Friday was 8654, Bulls need close above 8656 for a move till 8700/8750, As seen in below chart we are seeing contraction of trading range, so get ready for a big trending move in next 2 weeks. 8750 will be the LOC for BUlls and bears closing above it bulls will rule bears will rule below it. Bank Nifty Analysis for Muhurat Trading
- Nifty Nov Future Open Interest Volume is at 1.77 core with liquidation of 2.3 Lakh with decrease in cost of carry suggesting short position were closed today, NF Rollover cost @8705
- Total Future & Option trading volume was at 2.43 Lakh core with total contract traded at 1.3 lakh , PCR @1.05 , Trader’s Resolutions for the New Financial Year 2016-17
- 9000 CE is having Highest OI at 32 lakh, resistance at 9000 .8500/9000 CE added 18.7 lakh so bears added in 8700-8800 range .FII bought 8.6 K CE longs and 4 K CE were shorted by them .Retail bought 40.3 K CE contracts and 48.6 K CE were shorted by them.
- 8500 PE OI@40 lakhs having the highest OI strong support at 8500. 8500-9000 PE added 17.3 Lakh in OI so bulls added in 8500-8600 PE as Nifty continue to close below 8750. FII bought 37.2 K PE longs and 8.6 K PE were shorted by them .Retail bought 54 K PE contracts and 60 K PE were shorted by them.
- FII’s sold 777 cores in Equity and DII’s bought 1124 cores in cash segment.INR closed at 66.77
- Nifty Futures Trend Deciding level is 8651 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 8679 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level
Buy above 8668 Tgt 8680,8696 and 8710 (Nifty Spot Levels)
Sell below 8623 Tgt 8610,8595 and 8580 (Nifty Spot Levels)
Upper End of Expiry:8680
Lower End of Expiry:8550
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