FII bought 26.3 K contract of Index Future worth 2299 cores, Net OI has increased by 3.5 K contract 14.9 K Long contract were added by FII and 11.4 K Shorts were covered by FII. Net FII Long Short ratio at 2.4 so FII used RISE to ENTER longs and EXIT Shorts.
As discussed in Last AnalysisBayer Rule 31: The trend changes when Venus in declination reached an extreme beyond 23 degrees 26 minutes 51 seconds, so do not be a blind bear be ready for a positon change as we have again taken support at gann angle as shown in below chart. Bulls need to move above 17019 for a move back to 17085/17151/17216. Bears will get active below 16888 for a move towards 16823/16757/16691. Bayers Rule again helped in capturing the big move and Nifty again bounced from gann angle 1×1 line as shown in below chart. Now for swing traders Bulls need to move above 17217 for a move towards 17281/17346/17411. Bears will get active below 17118 for a move towards 17052/16987. Try to trade 30 mins after RBI Policy comes out do not stuck on any one side in volatile session.
MAX Pain is at 17200 PCR at 0.79 massive shift in max pain of 150 points, and PCR is in Bullish zone of 0.86 Nifty Rollover cost @ 17538 and Rollover is at 81.8 % Highest in last 6 months.
Nifty Dec Future Open Interest Volume is at 1.13 Cores with liquidation of 2.6 Lakh with increase in cost of carry suggesting SHORT positions were closed today.
There is total OI of 7 Cores on the Call side and 5.1 Cores on the Put side, So, the activity is more on the CALL side, indicating option writers are in BEARISH zone.
FII’s have been buying Options from last 2 trading session before RBI event they will try to go for directional trade so that maximum damage can be caused to maximum players. So… As the Jedi says “May The Force Be With You” 🙂
The Option Table data indicates decent support at 17000 and reasonable resistance at 17500.
FII’s sold 2584 cores and DII’s bought 2605 cores in cash segment.INR closed at 75.54
Retailers have sold 507 K CE contracts and 292 K shorted CE contracts were covered by them on Put Side Retailers bought 602 K PE contracts and 468 K PE contracts were shorted by them suggesting having BEARISH outlook,On Flip Side FII bought 29.1 K CE contracts and 31.8 K shorted CE were covered by them, On Put side FII’s bought 19.8 K PE and 53.4 K PE were shorted by them suggesting they have a turned BULLSIH to Bias.
The most obvious is the most deceiving in stock markets. Be cautious if you are Short,Remember trading is a game played on perceptions
For Positional Traders Stay long till we are holding Trend Change Level 17234 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 17176 will act as a Intraday Trend Change Level.