Nifty Technical Analysis for 16 November

• FII sold 3.1 K contract of Index Future worth 291 cores, Net OI has increased by 1.7 K contract 713 Long contract were covered by FII and 2.4 K Shorts were added by FII. Net FII Long Short ratio at 1.28 so FII used FALL to EXIT longs and ENTER shorts.

• As Discussed in Last Analysis NIfty has again bounced from gann angle as shown in below chart , On 15 we have 2 Important astro event 1. Mercury Square Pluto HELIO and Bayer Rule 5:Mercury Retrograde Zodical Position of One Year suggesting first 15 mins of the day will decide the trend of market till 17 Nov. Any Astro Event with Mercury has a good effect on Nifty. Bulls need to move above 18133 for a move towards 18200/18268/18335. Bears will get active below 18070 for a move towards 18014/17965/17900. We opened with gap up but low made was 18071 so bears unable to breach 18070 and 15 mins Low got broken as seen in below video and we were able to capture a good one. 

• Intraday time for reversal can be at 9:15/10:32/11:34/12:23/2:19   How to Find and Trade Intraday Reversal Times

• MAX Pain is at 18100 PCR at 0.93 . Rollover @ 18190 unable to close above it.

• Nifty Dec Future Open Interest Volume is at 1.01 Cores with addition of 0.70 Lakh with decrease in cost of carry suggesting SHORT positions were added today.

• There is total OI of 5.6 Cores on the Call side and 4.4 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 18300.

• Considering the high OI accumulation at 18000 PE, there might be a visit there to see how they react. Their reaction more or less determines the weekly series outcome.

• FII’s bought 424 cores and DII’s bought 1524 cores in cash segment.INR closed at 74.54 Both FII and DII have bought 2 days in a row.

• Retailers have bought 663 K CE contracts and 507 K CE contracts were shorted by them on Put Side Retailers bought 131 K PE contracts and 138 K PE contracts were shorted by them suggesting having BULLISH outlook,On Flip Side FII bought 23.7 K CE contracts and 26.6 K CE were shorted by them, On Put side FII’s bought 19 K PE and 1 K shorted  PE were covered  by them suggesting they have a turned to BEARISH Bias.

• In Last 2 trading sessions FII’s have bought Options worth 5.3 K Cores and today Options OI have increased by 68 K contracts suggesting we should see good trending move in next 2 trading sessions.

• For Positional Traders Stay long till we are holding Trend Change Level 17970  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 18156 will act as a Intraday Trend Change Level.

Buy Above 18119 Tgt 18140, 18189 and 18233 (Nifty Spot Levels)

Sell Below  18070 Tgt 18043, 18014 and 17985 (Nifty Spot Levels)

As always I wish you maximum health and trading success