FII sold 8.2 K contract of Index Future worth 807 cores, Net OI has increased by 8.7 K contract 231 Long contract were added by FII and 8.5 K Shorts were added by FII. Net FII Long Short ratio at 1.42 so FII used FALL to ENTER longs and ENTER shorts.
As discussed in Last AnalysisNifty 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. Low made was 17967 as we did 3 target on downside below 18101 and we held on to gann angles for 3 day in a row. As per our Astro analysis today high and low will be important till 29 Oct. Bulls need to move above 18179 for a move towards 18246/18314. Bears will get active below 18044 for a move towards 17977/17910/17843.
MAX Pain is at 18100 PCR at 0.81 ,PCR below 0.9 and above 1.3 lead to trending moves, and in between leads to range bound markets.
Nifty Dec Future Open Interest Volume is at 0.30 Cores with addition of 8.76 Lakh with decrease in cost of carry suggesting LONG positions were closed today.
There is total OI of 8.33 Cores on the Call side and 5.28 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 3 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 2390 cores in Equity.
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 2459 cores in Equity.
Retailers have bought 186 K CE contracts and 153 K CE contracts were shorted by them on Put Side Retailers bought 327 K PE contracts and 259 K PE contracts were shorted by them suggesting having BEARISH outlook,On Flip Side FII bought 12.1 K CE contracts and 489 CE were shorted by them, On Put side FII’s bought 19.2 K PE and 19.4 K PE were shorted by them suggesting they have a turned to BULLISH Bias.
For Positional Traders Stay long till we are holding Trend Change Level 18014 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 18117 will act as a Intraday Trend Change Level.