Weekly F&O Expiry:Nifty Analysis

FII sold 2.5 K contract of Index Future worth 155 , Net OI has increased by 20.3 K contract 8.8 K Long contract were added by FII and 11.4 K Shorts were added by FII. Net FII Long Short ratio at 0.79 so FII used FALL to ENTER Longs and ENTER Shorts.

As discussed in last analysis It was a Black Monday with Nifty crashing once it broke 17496 . Till we are below 17154 bears will rule and fall can extend towards 16895/16652. Astro add lot of energy in market direction as today 15 min low gone and bears had a field day. We have broken 20/50/100 moving averages in single session showing the feriocity of the fall. Do not try to catch falling knife till we get higher low on Hourly chart. Nifty did a perfect bounce from gann angle need to sustain above 17326 for rally till 17496/17555/17666.. Bearish below 17154 for a move towards 17026/16900.

Intraday time for reversal can be at9:44/10:1812:21/1:33/2:02/2:43 How to Find and Trade Intraday Reversal Times

Nifty Feb Future Open Interest Volume is at 0.69 Cores with addition of 23.5 Lakh with decrease in cost of carry suggesting SHORT positions were added today.

There is total OI of 10.3 Cores on the Call side and 6.2 Cores on the Put side, So, the activity is more on the CALL side, indicating option writers are in BEARISH zone.
Important 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. is in effect today so watch out for first 15 mins High and Low and day trend will be decided. 17154 and 17026 2 important level to watch out for today.
Retailers have sold 100 K CE contracts and 579 K shorted CE contracts were covered by them on Put Side Retailers bought 873 K PE contracts and 674 K shorted PE contracts were covered by them suggesting having BEARISH outlook,On Flip Side FII sold 113 K CE contracts and 101 K shorted CE were covered by them, On Put side FII’s sold 4.2 K PE and 25.8 K PE were shorted by them suggesting they have a turned to BEARISH Bias
The Option Table data indicates decent support at 16900 and reasonable resistance at 17200 .
FII’s sold 7094 cores and DII’s bought 4534 cores in cash segment.INR closed at 74.62. Total 26409 have been sold by FII’s in Jan Month till date.
For Positional Traders Stay long till we are holding Trend Change Level 17193 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 17112 will act as a Intraday Trend Change Level.

Buy Above 17210 Tgt 17250, 17294 and 17333 (Nifty Spot Levels)