FII bought 1.2 K contract of Index Future worth 79 cores, Net OI has increased by 8.7 K contract 4.9 K Long contract were added by FII and 3.7 K Shorts were added by FII. Net FII Long Short ratio at 1.20 so FII used fall to enter long and enter short in Index Futures.
As discussed in Last Analysis Today High and low will be important for swing trade till Friday based on Astro event today. For Swing Traders Long above 17124 for a move towards 17198/17250. Bears will get active below 16987 for a move towards 16911/16800
Intraday time for reversal can be at 9:50/11:11/12:35/1:15/2:02 How to Find and Trade Intraday Reversal Times
MAX Pain is at 16500 PCR at 0.80 , Rollover cost @16997 closed below it.
Nifty March Future Open Interest Volume is at 1.10 Cores with addition of 41.6 Lakh with increase in cost of carry suggesting SHORT positions were added today.
Talking about supports and resistance based on OI at this stage is not quite relevant because, with the kind of mayhem going on, no strike is safe.The option table is undergoing a real transformation – with each day one CE level is targeted with huge volumes of writing and the strike is giving way to much lower strikes.
The critical quality needed to make money in this kind of market, where trends will flip on no notice is: Extreme flexibility Be prepared to flip your positions and trades with market flavour.It is always the minority which wins in the markets. So, be open for possibilities.
The escalation in the Ukraine conflict comes at a time when financial markets were already grappling with surging inflation and the economic impact of hawkish central bank policies. All eyes are now on the Federal Reserve’s policy meeting next month, where analysts still expect it to raise interest rates, but deliver fewer-than-expected hikes through the rest of the year.
FII’s sold 6448 cores and DII’s bought 7667 cores in cash segment.INR closed at 75.01
For Positional Traders Stay long till we are holding Trend Change Level 16497 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 16497 will act as a Intraday Trend Change Level.