Nifty Bounce on Expected line

FII bought 634 contract of Index Future worth 58 cores, Net OI has increased by 1.9 K contract 1.3 K Long contract were added by FII and 672 Shorts were added by FII. Net FII Long Short ratio at 1.26 so FII used RISE to ENTER longs and ENTER shorts.

As discussed in Last Analysis 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. Low made was 17697 so Bears were unable to break 17649 and bulls once above 17715 very important gann number did all target on upside and now waiting for higher target of 18028/18172/18260. Bears will have chance below 17820 for a move towards 17766/17700/17610

Intraday time for reversal can be at 9:17/10:10/11:22/12:54/1:52/2:22 How to Find and Trade Intraday Reversal Times

Nifty Dec Future Open Interest Volume is at 1.07 Cores with liquidation of 0.25 Lakh with decrease in cost of carry suggesting SHORT positions were closed today.

There is total OI of 6.5 Cores on the Call side and 4.6 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 17800 and reasonable resistance at 18200.

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. — Worked Perfectly.

FII’s sold 202 cores and DII’s bought 116 cores in cash segment.INR closed at 75.12

Retailers have sold 18.6 K CE contracts and 130 K CE contracts were shorted by them on Put Side Retailers bought 475 K PE contracts and 443 K PE contracts were shorted by them suggesting having BEARISH outlook,On Flip Side FII bought 49.3 K CE contracts and 6.9 K CE were shorted by them, On Put side FII’s bought 39 K PE and 45.5 K PE were shorted by them suggesting they have a turned to BULLISH Bias.

From 25h October to 28th October, The November Series NF has added approximately 82 Lakh contracts. And in that time span, Nifty has traded with a low of 18387 and high of 17860 . It is interesting to note that NF once above 17860 gave almost 150 point rally. It looks the repelling effect of the highest volume zone.In my view, the longs should feel comfortable as long as we are trading above 17860 and can rally all the way towards 17387.

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 17904 will act as a Intraday Trend Change Level.