FII sold 3.9 K contract of Index Future worth 346, Net OI has decreased by 14.6 K contract 9.2 K Long contract were covered by FII and 5.3 K Shorts were covered by FII. Net FII Long Short ratio at 1.9 so FII used RISE to EXIT Longs and EXIT Shorts.
As discussed in last analysisTommrow 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. 3 IT major TCS,Infosys,Wipro will come with results tommrow total weightage of that is around 16% in Index Till Bulls are holding 17950-17964 range Bulls can see move towards 18150/18220. Bears will get active below 17916 for a move back to 17869/17800.
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 5.1 Cores on the Call side and 5.9 Cores on the Put side, So, the activity is more on the PUT side, indicating option writers are in BULLISH zone.
Retailers have bought 25.3 K CE contracts and 20.8 K CE contracts were shorted by them on Put Side Retailers bought 182 K PE contracts and 155 K PE contracts were shorted by them suggesting having BEARISH outlook,On Flip Side FII bought 1.2 K CE contracts and 5.3 K CE were shorted by them, On Put side FII’s sold 15.8 K PE and 775 PE were shorted by them suggesting they have a turned to BULLISH Bias.
The Option Table data indicates decent support at 17900 and reasonable resistance at 18200.
FII’s bought 111 cores and DII’s bought 378 cores in cash segment.INR closed at 74.07
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. —160 Point target done above 17845
We are 8 trading days old in this series. It has been a remarkable series – We made a low of 17365 on the first day of the series. And from then on, apart from a1 red day, we have closed all the days in green. A remarkable rally born out of complete bearishness on the first day of the series. Jupiter and Mercury Ingress changed the complete complexion of the game.
For Positional Traders Stay long till we are holding Trend Change Level 17733 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 18066 will act as a Intraday Trend Change Level.