Bulls celebrate Diwali on Dalal Street, FII F&O Analysis

• FII’s bought 10 K contract of Index Future worth 398 cores, 19.1 K Long contract were added by FII’s and 9.1 K short contracts  were added  by FII’s. Net Open Interest increased  by 28.2 K contract , so FII added long in index futures but started adding shorts also in index futures

• This is what we discussed in last analysis  Range of 7930-7940 is supply zone as shown in the below gann box once crossed can see impulsive move in nifty. Nifty again stopped @ yellow line of gann box Once 7930 is crossed next target comes @ 7972/8030.

• Nifty Future October Open Interest Volume is at 1.67 core with addition of 5.5 lakh in OI  with increase in CoC suggesting long addition.

• Total Future & Option trading volume was   at 2.96 lakh core with total contract traded at 266 lakh. PCR @0.99

• 8100  CE  OI at 63 lakh  suggesting wall of resistance , 8000 CE  @ 59.1 lakh will be keenly watched in next 2 session  FII’s bought 17.4 K CE longs and 520  shorted CE  were covered by  them.

• 7800 PE OI@ 63.4 lakhs so strong base @ 7800 . 7900 PE OI@57.1 lakh with addition of 9lakh so bulls will hold on to 7900 by mahurat trading, FII’s bought 9.4  K contract  PE longs and 2.3 K shorted  PE were covered by  them.

• FII’s bought 32 cores in Equity and DII bought 68  cores in cash segment.INR closed at 61.31.

• Nifty Futures Trend Deciding level is 7931 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 7931 and BNF Trend Changer Level (Positional Traders) 16338.How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level . 

Buy above 7936 Tgt 7951,7975 and 8013 (Nifty Spot Levels)

Sell below 7912 Tgt 7890,7850 and 7827 (Nifty Spot Levels)