FII bought 15.1 K contract of Index Future worth 1295 cores, Net OI has increased by 20.3 K contract 2.8 K Long contract were added by FII and 12.2 K Shorts were COVERED by FII. Net FII Long Short ratio at 0.47 so FII used rise to ENTER Longs and exit Shorts.
One of the most important event for Capital Market will come today Union Budget 2022, Its happening on New Moon Day.New Moon is negative as moon between sun and earth so traps energy. We are entering budget with a low expecation and any good news on Tax Front can lead the rally but watchout for 17576 on Upside. Any bad news can lead to big downfall as it will incresase FII selling as they have been an aggresive seller. Above 17429 ally can extend towards 17576/17666/17729/17828. Bears will get active below 17265 for a move towards 17104/17026/16900/16836.
MAX Pain is at 17300 PCR at 0.8, Rollover cost @17295 closed above it.
Nifty Feb Future Open Interest Volume is at 0.93 Cores with liquidation of 0.11 Lakh with decrease in cost of carry suggesting SHORT positions were closed today.
There is total OI of 6.02 Cores on the Call side and 3.83 Cores on the Put side, So, the activity is more on the CALL side, indicating option writers are in BEARISH zone.
Bayer Rule 2: Trend goes down within 3 days when the speed difference between Mars and Mercury is 59 minutes. Leads to Big Move and we have New Moon also and 5 Plannets are in Scorpio Zodiac suggesting it will be High Volatile day. First 15 mins High and low will guide for the day.
Retailers have bought 340 K CE contracts and 278 K CE contracts were shorted by them on Put Side Retailers bought 310 K PE contracts and 219 K PE contracts were shorted by them suggesting having BULLISH outlook,On Flip Side FII bought 30 K CE contracts and 47.7 K CE were shorted by them, On Put side FII’s bought 16.4 K PE and 49.2 K PE were shorted by them suggesting they have a turned to NEUTRAL Bias
The Option Table data indicates decent support at 16800 and reasonable resistance at 17600.
FII’s sold 3624 cores and DII’s bought 3648 cores in cash segment.INR closed at 74.91. Total 36200 have been sold by FII’s in Jan Month.
For Positional Traders Stay long till we are holding Trend Change Level 17243 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 17360 will act as a Intraday Trend Change Level.