Weekly F&O Expiry:Nifty Analysis

FII sold 16.7 K contract of Index Future worth 1527 cores, Net OI has decreased by 8.3 K contract 12.5 K Long contract were covered by FII and 4.2 K Shorts were added by FII. Net FII Long Short ratio at 1.02 so FII used FALL to EXIT longs and ENTER shorts.

As discussed in Last Analysis 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. Nifty amde high of 18012 just missing our target by 16 points , Above 17946 rally can continue towards18013/18080/18148. Bears will have chance below 17848 for a move back to 17777/17700. We have Fed Meeting today and impcat will be seen tommrow during Muhurat Trading. Any Taper less than 15 Billion USD will be bullish for market and start FII flows back to India.

Intraday time for reversal can be at 9:15/10:13/11:15/11:55/12:51/1:49/2:35 How to Find and Trade Intraday Reversal Times

Nifty Dec Future Open Interest Volume is at 1.02 Cores with liquidation of 4 Lakh with decrease in cost of carry suggesting SHORT positions were closed today.

There is total OI of 8.5 Cores on the Call side and 6.6 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 17900 and reasonable resistance at 18100.

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 bought 244 cores and DII’s sold 6 cores in cash segment.INR closed at 7

Retailers have bought 493 K CE contracts and 353 K CE contracts were shorted by them on Put Side Retailers bought 87.8 K PE contracts and 102 K PE contracts were shorted by them suggesting having BULLISH outlook,On Flip Side FII bought 14.6 K CE contracts and 40.6 K CE were shorted by them, On Put side FII’s bought 21.4 K PE and 4.3 K PE were shorted by them suggesting they have a turned to BEARISH 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.Low made was 17861 and we bounced.

For Positional Traders Stay long till we are holding Trend Change Level 17915 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 17947 will act as a Intraday Trend Change Level.