Sun Ingress Impact on Nifty

FII sold 6.7 K contract of Index Future worth 610 cores, Net OI has decreased by 7.7 K contract 7.2 K Long contract were covered by FII and 498 Shorts were covered by FII. Net FII Long Short ratio at 1.62 so FII used FALL to EXIT longs and EXIT shorts.

As discussed in Last Analysis 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. Nifty continue to hold on to its gann angle for 2 day in a row. Swing Traders need a close above 18236 for a move towards 18303/18371/18439. Bears wil get active below 18101 for a move back to 18044/17977/17910

Intraday time for reversal can be at 9:50/10:27/11:14/12:01/1:44/2:22 How to Find and Trade Intraday Reversal Times

MAX Pain is at 18150 PCR at 0.9 ,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 0.99 Cores with liquidation of 3.8 Lakh withdecrease 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 18000 and reasonable resistance at 18400.

It is important to note that DII have stepped up their equity buying in the last 2 days. Otherwise the damage could have been more severe. Now, whether DII are buying the equities as an opportunity or as a compulsion is what will determine the next course of action. DII bought 1029.97 cores.

DII have been buying equities during the week. Add, the high equity selling yesterday by FII indicate that we are closer to the bottom. ( I go with premise that equity cycle is a delayed FnO cycle – and high activity in equities generally indicate culmination of that particular cycle.),FII sold 2697.7

Retailers have bought 610 K CE contracts and 527 K CE contracts were shorted by them on Put Side Retailers bought 353 K PE contracts and 370 K PE contracts were shorted by them suggesting having BULLISH outlook,On Flip Side FII bought 80.1 K CE contracts and 107 K CE were shorted by them, On Put side FII’s bought 68 K PE and 53 K shorted PE were covered by them suggesting they have a turned to BEARISH Bias.

For Positional Traders Stay long till we are holding Trend Change Level 18008 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 18179 will act as a Intraday Trend Change Level.

Buy Above 18136 Tgt 18171, 18212 and 18250 (Nifty Spot Levels)