Nifty corrects from pyrapoint resistance,FII FnO Data Analysis
- FII’s bought 49 K contract of Index Future worth 1256 cores ,19.4 K Long contract were added by FII’s and 29.5 K short contracts were added by FII’s. Net Open Interest decreased by 10K contract, so today’s correction was used by FII’s to enter longs in index futures and exit shorts in index futures. Are You Comfortable with your trading ?
- Nifty today again was unable to cross the pyrapoint resistance,after a very good Infosys number finally succumbed to selling pressure after 2 PM and made a lower low of 8517 and closed at lowest point of the day.Pyrapoint suggest support lies in zone of 8492/8500 range. Holding the same Nifty can see a rise to break its resistance of 8636. Gunner also suggests range of 8480/8500 strong support zone. Fresh buying should be done on close above 8535 on nifty spot.
- Nifty July Future Open Interest Volume is at 2.07 core with liquidation of 7 Lakh, with decrease in CoC suggesting longs positions were closed today.
- Total Future & Option trading volume was at 2.54 core with total contract traded at 3.9 lakh. PCR @1.19
- 8600 CE OI at 47.6 lakh , wall of resistance @ 8600 .8400/8800 CE added 7.3 lakh so bears finally got upper hand today and added aggressively today . FII sold 9.6 K CE longs and 3.3 K CE were shorted by them.Retail bought 82.1 K CE contracts.Retailers buying CE and market going down.
- 8500 PE OI@ 58.6 lakhs so strong base @ 8500. 8500/8700 PE liquidated 18 lakh so major liquidation seen in 8500/8600 CE still holding 167 lakh suggesting bulls are still holding aggressive positions at lower levels . FII sold 30 K PE longs and 5.3 K shorted PE were covered by them.Retail sold 72.8 K PE contracts.
- FII’s sold 226 cores in Equity and DII’s bought 146 cores in cash segment.INR closed at 63.54
Buy above 8536 Tgt 8560,8580 and 8610 (Nifty Spot Levels)
Sell below 8510 Tgt 8482,8462 and 8440 (Nifty Spot Levels)
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