FII sold 1887 contract of Index Future worth 161 cores, Net OI has increased by 15.5 K contract 6.8 K Long contract were added by FII and 8.7 K Shorts were added by FII. Net FII Long Short ratio at 1.77 so FII used RISE to ENTER longs and ENTER Shorts.
As discussed in last analysis 17222 done now waitng for 17287/17352 till we are holding 17161. Bears below 17201 can see fall towards 17125/17050. High made was 17286 so our target of 17287 done and low was made was 17176 so bears unable to break 17161. till we are holding 17161 Bulls can rally back to 17287/17352. Bears below 17157 can see fall towards 17092/17027.
Nifty Jan Future Open Interest Volume is at 0.67 Cores with addition of 20.8 Lakh with increase in cost of carry suggesting LONG positions were added today.
There is total OI of 9.4 Cores on the Call side and 10.6 Cores on the Put side, So, the activity is more on the PUT side, indicating option writers are in BULLISH zone.
Its been a Choppy trade in past few trading sessions with volatile move coming both sides, and seeing swing in MTM can drain a trader emotionally. But thats the Job of trader to pass tough times with less loss and sit tight when trending move is coming.
The Option Table data indicates decent support at 17000 and reasonable resistance at 17300 .
FII’s sold 975 cores and DII’s bought 1006 cores in cash segment.INR closed at 74.85
Retailers have bought 465 K CE contracts and 371 K CE contracts were shorted by them on Put Side Retailers bought 19.2 K PE contracts and 89.4 K PE contracts were shorted by them suggesting having BULLISH outlook,On Flip Side FII bought 75.1 K CE contracts and 64.3 K CE were shorted by them, On Put side FII’s 23.4 K PE and 16.3 K PE were shorted by them suggesting they have a turned to BULLISH Bias.
FII’s have bought options worth 12000 cores in last 3 trading session so we should see trending move soon 17161 holds the key
For Positional Traders Stay long till we are holding Trend Change Level 17203 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 17235 will act as a Intraday Trend Change Level.