FII bought 15.9 K contract of Index Future worth 1457 cores, Net OI has decreased by 9.9 K contract 3 K Long contract were added by FII and 12.9 K Shorts were covered by FII. Net FII Long Short ratio at 0.77 so FII used rise to ENTER Longs and EXIT Shorts.
All Bullish target discussed tommrow were done and short term bottom also formed. Tommrow we have RBI policy at 10 AM. Try to take trade 15 mins after once the policy is over. Now Bulls need to move above 17470 for a move towards 17536/17602. Bears will have chance below 17404 for a move ack to17339/17225
Intraday time for reversal can be at 10:12/11:26/12:32/1:15/2/2:53 How to Find and Trade Intraday Reversal Times
MAX Pain is at 17400 PCR at 0.91, Rollover cost @17295 closed below it.
Nifty Feb Future Open Interest Volume is at 0.92 Cores with liquidation of 1.5 Lakh with decrease in cost of carry suggesting SHORT positions were closed today.
There is total OI of 7.02 Cores on the Call side and 8.83 Cores on the Put side, So, the activity is more on the PUT side, indicating option writers are in BULLISH zone.
As per Gann,Bulls need to move above 17576-17593 for upmove towards 17828
Retailers have sold 432 K CE contracts and 247 K shorted CE contracts were covered by them on Put Side Retailers bought 500 K PE contracts and 392 K PE contracts were shorted by them suggesting having BEARISH outlook,On Flip Side FII sold 850 CE contracts and 50 K shorted CE were covered by them, On Put side FII’s bought 14.6 K PE and 31.8 K PE were shorted by them suggesting they have a turned to BULLISH Bias
The Option Table data indicates decent support at 17300 and reasonable resistance at 17600.
FII’s sold 892 cores and DII’s bought 1793 cores in cash segment.INR closed at 74.95.
For Positional Traders Stay long till we are holding Trend Change Level 17412 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 17425 will act as a Intraday Trend Change Level.