FII bought 14.2 K contract of Index Future worth 1326 cores, Net OI has increased by 8.7 K contract 11.5 K Long contract were added by FII and 2.7 K Shorts were covered by FII. Net FII Long Short ratio at 2 so FII used rise to enter longs and exit shorts.
As discussed in Last AnalysisAll Bullish target done as we saw the impact of Saturn Ingress, Now Bulls need to move above 18185 for a move back to 18252/18320/18388. Bears will get active below 18063 for a move back to 17996/17929/17862. Friday is trading holiday. All Bullish target done. Till Bulls are holding 18214 rally can continue towards 18388/18456/18524. Bear will have chance below 18200 for a move towards 18148/18080/18013. We have double ingress of Monday Mercury and Jupiter going Ingress suggesting another big move coming.
MAX Pain is at 18300 PCR at 1.08 , The PCR is in the neutral zone of 0.95 OI Breakout zone 17975 closed above it. Another 200 points above OI breakout zone.
Nifty Oct Future Open Interest Volume is at 1.21 Cores with liquidation of 3.1 Lakh with increase in cost of carry suggesting LONG positions were closed today.
There is total OI of 2.19 Cores on the Call side and 3.82 Cores on the Put side, So, the activity is more on the Put side, indicating option writers are bullishly confident.
The Option Table data indicates decent support at 18200 and reasonable resistance at 18500 .The option table is undergoing a real transformation – with each day one PE level is targeted with huge volumes of writing and the strike is giving way to much lower strikes.
Be prepared for unexpected corrections and tighten your stop losses on the long side as Bayer Rule 2: Trend goes down within 3 days when the speed difference between Mars and Mercury is 59 minutes. Leads to Big Move will kick in.
It was decent rally which caused maximum pain to maximum participants as most retail traders lose money by looking for a trending move in non-trending environments and staying out in trending environments. We had a massive 560 points rally in last expiry as Saturn Impact showed its impact.
FII bought 1681 crore and DII sold 1750 cores. USD Closed at 75.35
For Positional Traders Stay long till we are holding Trend Change Level 17856 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 18303 will act as a Intraday Trend Change Level.