FII sold 37.3 K contract of Index Future worth 3271 cores, Net OI has decreased by 5.4 K contract 21.4 K Long contract were covered by FII and 15.9 K Shorts were added by FII. Net FII Long Short ratio at 1.44 so FII used FALL to EXIT longs and ENTER shorts.
As Discussed in Last AnalysisTommorow Mercury Opposition North Node or Rahu. The planet Rahu is the significator of fast speculation and sudden change in the life path. Hence we should see big move in Nifty. Bulls need to move above 17576 for a move towards 17610/17666/17740. Bears will get active below 17478 for a move back to 17412/17347/17285/17216. We opened with huge gap down as Rahu again crated Havoc in market due to B.1.1.529 (Nu) OmicronVariantand did all target on downside in the process we have closed below 100 DMA. If Next 2 days we close below 17100 than the logical target foe this downmove are 16564/16075 where 200 DMA lies. Fresh short should be taken below 16900 for a move towards 16771/16641. BUlls will get active above 17100 for a move towards 17161/17293. We have Mercury Square Jupiter HELIO Aspect forming on Monday it generally leads to top or bottom formation so watch out for first 15 mins its will guide you for next week move.
MAX Pain is at 17300 PCR at 0.91.Nifty Rollover cost @ 17538 and Rollover is at 81.8 % Highest in last 6 months.
Nifty Dec Future Open Interest Volume is at 1.08 Cores with addition of 3.6 Lakh with decrease in cost of carry suggesting SHORT positions were added today.
There is total OI of 6.5 Cores on the Call side and 2.7 Cores on the Put side, So, the activity is more on the CALL side, indicating option writers are in BEARISH zone.
The option table is undergoing a real transformation – with each day one CE level is targeted with huge volumes of writing and the strike is giving way to much lower strikes.
There has been 29.6 L contract roll-over happened today. When you add 54.5 L contracts rolled over last 3 days, we have 84 L contracts have been rolled over between 17408-17526 price zone. Considering that we are having around 1.04 Lakh OI on an average for the series, this is approximately 80%. So, this price zone17408-17526 will have a crucial bearing in December Series. Till we are holding 17526 bulls can rally towards 17805. High made after gap down 17427 and once below 17408 nifty crashed. Now till below 17250 Bears have upper hand towards 16892/16745/16574 on Futures.
FII’s sold 5785 cores and DII’s bought 2294 cores in cash segment.INR closed at 75.12
Retailers have bought 11.7 Lakh CE contracts and 99 K CE contracts were shorted by them on Put Side Retailers bought 161 K PE contracts and 242 K PE contracts were shorted by them suggesting having BULLSIH outlook,On Flip Side FII bought 86 K CE contracts and 138 K CE were shorted by them, On Put side FII’s bought 70 K PE and 25.5 K PE was bought by them suggesting they have a turned to BEARISH Bias.
FII have been relentlessly selling in equities. They have net sold approximately 30 K crore so far this month. From 16th November, till date, not even one day did they buy equities. All in all, friends do not try to catch a falling knife. At this juncture, I still can not see the bottom. We are in for some rough ride.
For Positional Traders Stay long till we are holding Trend Change Level 17369 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 17206 will act as a Intraday Trend Change Level.