FII FnO Data Analysis for 21 Oct

• FII’s bought 36.5 K contract of Index Future worth 1455 cores, 40.4 K Long contract were added by FII’s and 3.9 K short contracts  were added  by FII’s. Net Open Interest increased  by 44.3 K contract , so FII added long in index futures.

• This is what we discussed in last analysis  yesterday Nifty has taken support @ 100 DMA today, suggesting short term bottom is in place. Nifty has corrected 450 points in this current correction which has lasted for 22 trading days. Shorts needs to be extreme cautious now as the reversal will be fast, we have Diwali and election results coming on Monday so bulls can see a fast and furious come back. Also Dow,European market seems to be making a short term bottom.  Range of 7930-7940 is supply zone as shown in the below gann box once crossed can see impulsive move in nifty. Break of 7856 can see gap filling taking place.
  

 

• Nifty Future October Open Interest Volume is at 1.62 core with addition of 5.8 lakh in OI  with decrease in CoC suggesting long addition. 
  

• Total Future & Option trading volume was   at 2.32  lakh core with total contract traded at 2.48 lakh. PCR @0.92

• 8000  CE  OI at 64.2 lakh  suggesting wall of resistance , 8100 CE  @ 64.3 lakh will be keenly watched in next 2 sesession  FII’s bought 16.4 K CE longs and 3K  shorted CE  were covered by  them.
  

• 7800 PE OI@ 54.2 lakhs so strong base @ 7800 . 7900 PE OI@47.7 lakh with addition of 12.2 lakh so fight for 7900 will happen in next 2 session, FII’s sold 26.2  K contract  PE longs and 1.1 K PE were shorted  by  them.
  

• FII’s bought 1040  cores in Equity and DII sold 166  cores in cash segment.INR closed at 61.35.

• Nifty Futures Trend Deciding level is 7910 (For Intraday Traders). NF Trend Changer Level (Positional Traders) 7930 and BNF Trend Changer Level (Positional Traders) 15629.How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level . 
   

Buy above 7882 Tgt 7904,7929 and 7953 (Nifty Spot Levels)

Sell below 7855 Tgt 7831,7806 and 7780 (Nifty Spot Levels)