Nifty breaks 20/100/200 DMA, FII FnO Data Analysis
- FII’s sold 65 K contract of Index Future worth 1413 cores ,31.9 K Long contract were squared off by FII’s and 33 K short contracts were added by FII’s. Net Open Interest increased by 1 K contract, so today’s fall was used by FII’s to enter shorts and exit longs in index futures . Why Dalal Street jitter on participatory notes?
- Nifty broke the Pyrapoint support of 8500 in morning and started declining with every rise being sold. Nifty has formed three black crow candlestick pattern which is having bearish implication as in single session market broke its 20/100/200 DMA and trading precariously near its 50 DMA. 9 days of rise got sold in 3 trading sessions as we have expiry till nifty does not close above 8398 bulls should not take fresh positions. Bullish only on close above 8398, Break of 8300 can see quick move towards 8200/8150 in extreme short term.
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- Nifty July Future Open Interest Volume is at 1.79 core with liquidation of 20 Lakh, with decrease in CoC suggesting short positions got closed today.
- Total Future & Option trading volume was at 4 core with total contract traded at 5.4 lakh. PCR @0.85
- 8600 CE OI at 58.8 lakh , wall of resistance @ 8600 .8300/8500 CE added huge 54.5 lakh so bears gave a big blow to bulls in single session . FII bought 11.8 K CE longs and 3.4 K CE were shorted by them.Retail bought 327 K CE contracts.Retailers buying CE and market going down.
- 8300 PE OI@ 48 lakhs so strong base @ 8300. 8400/8700 PE liquidated 40 lakh so major liquidation seen in 8500/8600 PE as nifty was unable to break 8650 and bulls ran for cover . FII bought 53.1 K PE longs and 2.4 K PE were shorted by them.Retail sold 236 K PE contracts.
- FII’s sold 859 cores in Equity and DII’s sold 238 cores in cash segment.INR closed at 64.16
Buy above 8370 Tgt 8398,8420 and 8450 (Nifty Spot Levels)
Sell below 8340 Tgt 8310,8280 and 8260 (Nifty Spot Levels)
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