FII sold 23.2 K contract of Index Future worth 2102, Net OI has decreased by 2.8 K contract 10.1 K Long contract were covered by FII and 13 K Shorts were added by FII. Net FII Long Short ratio at 1.09 so FII used FALL to EXIT Longs and ENTER Shorts.
As discussed in last analysis We got the explosive move today as combination of Astro and Gann Cycle showed the effect. Below 18080 did 3 target on dowside, High made was 18129 so bulls unable to close above 18153. Now Till Bears are below 17945 fall can extend towards 17828/17777/17666. Bulls have chance above 17956 for a move towards 18012/18080/18147. All Bearish target are done. Now as we have Jupiter in oppsition with Moon suggesting we can see small trend reversal and relief rally. Bulls need a move above 17781 for a move towards 17847/17914/17980. Bears will have chance below 17714 for a move towards17648/17555
MAX Pain is at 17900 PCR at 0.76 , Rollover cost @17280 closed above it.
Nifty Jan Future Open Interest Volume is at 086 Cores with liquidation of 5.9 Lakh with increase in cost of carry suggesting SHORT positions were closed today.
There is total OI of 6.55 Cores on the Call side and 4.88 Cores on the Put side, So, the activity is more on the CALL side, indicating option writers are in BEARISH zone.
Equity buying/selling is delayed cycle to the FnO cycle. First FII take Short positions in FnO – Then they will start Selling equities to induce a fall – and then they will start liquidating the FnO longs. So, in general a very high equity volumes generally indicates the end of current cycle and a run to the opposite is about to begin. For example, on 20th Dec , there has been 3565 crore equity sell off by FII. That was the end of short term bear cycle. The FII booked profits in FnO by inducing huge sell off with equity sell. Today huge Selling in equity is similar? Tommrow action will reveal..
The Option Table data indicates decent support at 17600 and reasonable resistance at 17900.It’s is very interesting to note that FII bought worth 7083 core options than what they sold, That is another indication for me that a directional move is round the corner.
FII’s sold 4679 cores and DII’s bought 796 cores in cash segment.INR closed at 74.55
For Positional Traders Stay long till we are holding Trend Change Level 17923 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 17816 will act as a Intraday Trend Change Level.