FII bought 3.9 K contract of Index Future worth 347 cores, Net OI has increased by 3.5 K contract 3.7 K Long contract were added by FII and 202 Shorts were covered by FII. Net FII Long Short ratio at 1.91 so FII used rise to enter longs and exit shorts.
As discussed in Last AnalysisAs we have weekly close tommorow and Bulls are on Driving seat watch out for intraday reversal time on 2:39 to catch a good trade.We have NFP Data and Aphelion of Mercury on Monday suggesting we will get a big gap up or down on Monday so carry overnight position with caution. Bears have there chance below 17161 for a move towards 17114/17049.Nifty has formed an DOJI with NR7 and tommrow we have Shemitah cycle combined with Mars Yod Jupiter aspect suggesting we should get big move in next 2 trading sessions. Bulls need to move above 17430 for a move towards 17500/17576/17630. Bears will get active below 17363 for a move towards 17297/1732/17166/17101
Nifty Sep Future Open Interest Volume is at 1.49 Cores with addition of 0.62 Lakh with increase in cost of carry suggesting LONG position were added today.
There is total OI of 4.3 Cores on the Call side and 4.4 Cores on the Put side. So, the activity is almost similar on both call and put side. Today FII;s bought 4865 cr suggesting we should get a trending move soon to give shock to options writers.
The Option Table data indicates decent support at 17300 and reasonable resistance at 17500.
Retailers have bought 421 K CE contracts and Sold 379 K CE contracts on Put Side Retailers sold 251 K PE contracts and Sold 265 K PE contracts suggesting having bulish outlook,On Flip Side FII bought 88.2 K CE contracts and 72..1 K CE contracts were added by them, On Put side FII’s bought 48.1 K PE and 15.5 K PE were covered suggesting they have a turned to neutral to bearish Bias.
FII sold 589 crore and DII bought 547 cores. USD Closed at 73.23
For Positional Traders Stay long till we are holding Trend Change Level 17033 and stay short below it. That will help you stay on the side of Institutions and which has a greater risk-reward ratio. For Intraday Traders 17399 will act as a Intraday Trend Change Level.