FII sold 17 K contract of Index Future worth 1538 cores, Net OI has decreased by 3.8 K contract 10.4 K Long contract were covered by FII and 6.6 K Shorts were added by FII. Net FII Long Short ratio at 1.72 so FII used FALL to EXIT longs and ENTER shorts.
As discussed in Last AnalysisDouble Ingress For Swing Traders Now Bears need to break 18197 for a move towards 18130/18062/18028. Bulls will have change above 18322 for a move back to 18400/18467. All Bearish target done and saw a perfect bounce from 18062 as shared on twitter . on Weekend we have 2 important astro event 1. Sun going INgress 2. Bayer Rule 27: Big tops and big major bottoms are when Mercury’s speed in Geocentric longitude is 59 minutes or 1 degree 58 minutes. will also get activated. For Swing Traders Now Bears need to break 18115 for a move towards 18048/17978/17912. Bulls will have chance above 18250 for a move back to 18317/18385/18453
MAX Pain is at 18200 PCR at 0.78 ,PCR below 0.9 and above 1.3 lead to trending moves, and in between leads to range bound markets.
Nifty Oct Future Open Interest Volume is at 1.03 Cores with liquidation of 6.3 Lakh with increase in cost of carry suggesting LONG positions were closed today.
There is total OI of 5.47 Cores on the Call side and 4.09 Cores on the Put side, So, the activity is more on the CALL side, indicating option writers are in Bearish zone.
The Option Table data indicates decent support at 18100 and reasonable resistance at 18400.
Nifty has rallied 704 points in last 5 trading sessions and FII has bought just 1549 cr and DII’s jhave sold 5000 cr worth of equities so rally is driven by Retailers and today we had the highest Cash market volumes suggesting time to be cautious as rally is not driven by Instituions. This was a timely caution.
Today we have bounced from 18062 where gann cycle got over from 18604 also gann angle support was held so we can see a bounce back provided we hold on to 18130-18150 range tommrow.
FII sold 2818 crore and DII bought 428 cores. USD Closed at 74.88
For Positional Traders Stay long till we are holding Trend Change Level 17996 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 18197 will act as a Intraday Trend Change Level.