FII sold 5.8 K contract of Index Future worth 538 , Net OI has increased by 8 K contract 1 K Long contract were added by FII and 6.9 K Shorts were added by FII. Net FII Long Short ratio at 1.9 so FII used RISE to ENTER Longs and ENTER Shorts.
As discussed in last analysisBoth short target done once below 17844 and price reacted from gann angle. Till we are holding 17771 rally can extend towards 17921/17987/18054. Bears will get active below 17750 for a move towards 17666/17610/17555. All Bullish target done as discussed in below video today High and low will be very important for the whole week, Tommrow as Mars Square Neptune Mars creates lot of volatality in the market so time to be bit cautious. Bulls need to move above 18020 for a move towards 18081/18148/18215 Bears will get active below 17948 for a move back to 17882/17815/17748.
MAX Pain is at 17900 PCR at 0.93, Rollover cost @17280 closed above it.
Nifty Jan Future Open Interest Volume is at 1.05 Cores with addition of 2.7 Lakh with increase in cost of carry suggesting LONG positions were added today.
There is total OI of 4.5 Cores on the Call side and 5.8 Cores on the Put side, So, the activity is more on the PUT L side, indicating option writers are in BULLISH zone.
Retailers have sold 12.2 K CE contracts and 45.2 K CE contracts were shorted by them on Put Side Retailers bought 543 K PE contracts and 463 K PE contracts were shorted by them suggesting having BEARISH outlook,On Flip Side FII bought 60.7 K CE contracts and 34.9 K CE were shorted by them, On Put side FII’s bought 38.7 K PE and 40.2 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 18200.
FII’s sold 124 cores and DII’s bought 481 cores in cash segment.INR closed at 74.21
We had the Highest Volume in Nifty future yesterday of 2.4 Lakh suggesting break of 17845 on upside or break of 17685 on downside can lead to 160 points move in Index. Keep these levels in your trading plan. —Got almost 100 points from 17845. 160 points done above 17845.
2 Important Bayers Rules are becoming active today and tommorow Bayer Rule 27: Big tops and big major bottoms are when Mercury’s speed in Geocentric longitude is 59 minutes or 1 degree 58 minutes and Bayer Rule 19: We have tops when Venus in geocentric position passes the conjunction with the Sun. SUN Conju Venus . 17800 on Upside and 17655 on downside break any side will lead to 200-250 point move in Nifty. 18017 High done 200 points above 17800 done.
For Positional Traders Stay long till we are holding Trend Change Level 17691 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 17964 will act as a Intraday Trend Change Level.