FII sold 15 K contract of Index Future worth 1323 cores, Net OI has decreased by 14.8 K contract 14.9 K Long contract were covered by FII and 73 Shorts were added by FII. Net FII Long Short ratio at 2 so FII used RISE to EXIT longs and ENTER Shorts.
We are getting double Ingress tommrow as Mercury is moving in Capricon and Mars is moving in Sagittarius alongwith Lunar Cycle suggesting we are in for big move in next 2 trading sessions. Bulls need to move above 17576 for a move towards 17637/17703/17769/17835. Bears will get active below 17440 for a move towards 17374/17308/17225
MAX Pain is at 17400 PCR at 0.91 massive shift in max pain of 150 points, and PCR is in Bullish zone of 0.91 Nifty Rollover cost @ 17538 closed above it
Nifty Dec Future Open Interest Volume is at 1.10 Cores with liquidation of 2.5 Lakh with decrease in cost of carry suggesting LONG positions were closed today.
There is total OI of 6 Cores on the Call side and 6.7 Cores on the Put side, So, the activity is more on the PUT side, indicating option writers are in BULLISH zone.
We do not get into strong bull trend with out sufficient backup in the equity segment. Probably the institutions also are adopting a wait-and-watch policy till the global dust settles on OMNICORN down – and are playing the market with a very short term outlook – perhaps manipulating the index on a series by series basis.
The Option Table data indicates decent support at 17300 and reasonable resistance at 17600.
FII’s sold 1092 cores and DII’s bought 386 cores in cash segment.INR closed at 75.85
Retailers have bought 409 K CE contracts and 435 K shorted CE contracts were shorted by them on Put Side Retailers bought 393 K PE contracts and 436 K PE contracts were shorted by them suggesting having BULLSIH outlook,On Flip Side FII bought 29.7 K CE contracts and 38.1 K shorted CE were added by them, On Put side FII’s bought 33.5 K PE and 33 K PE were shorted by them suggesting they have a turned to BEARISH 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. — Worked Perfectly
For Positional Traders Stay long till we are holding Trend Change Level 17299 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 17507 will act as a Intraday Trend Change Level.