FII bought 7.5 K contract of Index Future worth 690 cores, Net OI has increased by 10.9 K contract 9.2 K Long contract were added by FII and 1.7 K Shorts were added by FII. Net FII Long Short ratio at 1.25 so FII used FALL to ENTER longs and ENTER shorts.
As discussed in Last AnalysisAll Bearish target done and we had the 350 points drop in Nifty and trend of the day was decided by 15 mins High and low as discussed. Bulls need to move above 17922 for move towards 17989/18056. As we have weekly monthly close tommrow so last 1 hour we are see NAV adjustment buying. Bears will get active below 17788 for a move towards 17788/17721/17665. Nifty was unable to cross 17922 as high made was 17916 and bears were able to do all target on downside. Now Bears need to break 17649 for a fall towards 17582/17516/17450. BUlls will have chance above 17715 for a move towards 17782/17846/17915.
MAX Pain is at 17800 PCR at 0.94 . Rollover @ 18190 and Rollover is at 77%
Nifty Dec Future Open Interest Volume is at 1.07 Cores with addition of 3.3 Lakh with increase in cost of carry suggesting SHORT positions were added today.
There is total OI of 8.5 Cores on the Call side and 4.5 Cores on the Put side, So, the activity is more on the CALL side, indicating option writers are still in Bearish zone.
The Option Table data indicates decent support at 17600 and reasonable resistance at 17900.
We are into relent less selling and 991 points down on NF in the week. Today we have seen Highest selling in Equity by FII’s around 5100 cr and they have bought in Futures so we might be coming the end of bear cycle as they have started covering short and entering long.
FII’s sold 5142 cores and DII’s bought 4342 cores in cash segment.INR closed at 75.12
Retailers have bought 687 K CE contracts and 639 K CE contracts were shorted by them on Put Side Retailers bought 355 K PE contracts and 377 K PE contracts were shorted by them suggesting having NEUTRAL outlook,On Flip Side FII bought 108 K CE contracts and 108 K CE were shorted by them, On Put side FII’s bought 52 K PE and 41.5 K PE were shorted by them suggesting they have a turned to NEUTRAL Bias.
For Positional Traders Stay long till we are holding Trend Change Level 17905 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 17786 will act as a Intraday Trend Change Level.