FII bought 5060 contract of Index Future worth 475 , Net OI has increased by 1.9 K contract 3.5 K Long contract were added by FII and 1.5 K Shorts were covered by FII. Net FII Long Short ratio at 2.81 so FII used RISE to ENTER Longs and EXIT Shorts.
As discussed in last analysisLow made was 17593 so bears unable to break 17581 , and Bulls once above 17650 did 3 target on upside and now till we are holding 17773 -17742 range rally can extend towards 17890/17976. Bears will have chance below 17705 for a move towards 17656/17600. Nifty Bulls 17956-17983 range longs should lighten off and take some money off the table. Fresh Long only on close above 18000 for a move towards 18088/18192. Bears will get active below 17844 for a move towardds 17777/17714
MAX Pain is at 17850 PCR at 0.91, Rollover cost @17280 closed above it.
Nifty Jan Future Open Interest Volume is at 1.05 Cores with liquidation of 0.92 Lakh with increase in cost of carry suggesting LONG positions were closed today.
There is total OI of 4.8 Cores on the Call side and 7.1 Cores on the Put side, So, the activity is more on the PUT side, indicating option writers are in BULLISH zone.
Retailers have bought 279 K CE contracts and 163 K CE contracts were shorted by them on Put Side Retailers bought 464 K PE contracts and 370 K PE contracts were shorted by them suggesting having BEARISH outlook,On Flip Side FII bought 33.5 K CE contracts and 38.1 K CE were shorted by them, On Put side FII’s bought 50.4 K PE and 48.9 K PE were shorted by them suggesting they have a turned to BULLISH Bias.
The Option Table data indicates decent support at 17800 and reasonable resistance at 18000.
FII’s bought 336 cores and DII’s bought 1271 cores in cash segment.INR closed at 74.56
December series had a maximum roll-overs of around 242 Lakh contracts in last 4 days of trading . The NF was trading in the range between 17332-16984. Whenever, the price band is approached, expect some violent reactions. — Closed at 17409 and today gave bumper rally.
We will have Weekly,Monthly,Quaterly,Yearly closing tommrow its a rare event , Nifty is up by just 23 % for the whole year. Bulls would like to close in range of 17325-17343 for a good begining in New Year 2022. Closed at 17354 and today gave bumper rally.
For Positional Traders Stay long till we are holding Trend Change Level 17584 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 17896 will act as a Intraday Trend Change Level.