FII bought 42.5 K contract of Index Future worth 3554 cores, Net OI has decreased by 19.5 K contract 11.4 K Long contract were added by FII and 31 K Shorts were covered by FII. Net FII Long Short ratio at 1.59 so FII used Rise to enter long and exit 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. Gap Up open as Price took support at 1×1 line and rallied big time. We are in Uncertain time with Price back to 17900 by Monday from low of 17200 in just 3 trading session.We have many astro event happening in weekend but most important is Venus Trine North Node Mars Trine North Node. Mars and Venus Aspect with Rahu it will create lot of voaltlity and wild swing so trade with less position size.First 15 mins High and Low will decide the trend for the day. For Swing Traders Nifty need a clos above 16900 for a move towards 16974/17030/17100 Bears will get active below 16643 for a move towards 16610/16555/16485.
Intraday time for reversal can be at 9:48/10:44/11:11/12:35/1:05/2:22 How to Find and Trade Intraday Reversal Times
MAX Pain is at 16650 PCR at 0.83 , Rollover cost @16997 closed below it.
Nifty March Future Open Interest Volume is at 1.05 Cores with liqudiation of 4.5 Lakh with increase in cost of carry suggesting SHORT positions were closed today.
Talking about supports and resistance based on OI at this stage is not quite relevant because, with the kind of Voaltality going on, no strike is safe as 1 day we are down 2000 points and other day 1000 point up.The option table is undergoing a real transformation – with each day one PE 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.
Retailers have bought 409 K CE contracts and 467 K CE contracts were shorted by them on Put Side Retailers bought 510 K PE contracts and 443 K PE contracts were shorted by them suggesting having BEARISH outlook,On Flip Side FII bought 77.5 K CE contracts and 54.2 K CE were shorted by them, On Put side FII’s bought 51.7 K PE and 103 K PE were shorted by them suggesting they are having to BULLISH Bias
FII’s sold 4470 cores and DII’s bought 4318 cores in cash segment.INR closed at 75.66
For Positional Traders Stay long till we are holding Trend Change Level 16577 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 16657 will act as a Intraday Trend Change Level.