Will Nifty Rally with Impact of Double Ingress ?

By | March 7, 2022 11:52 pm

FII sold  22 K contract of Index Future worth 1762 cores, Net OI has increased by 24.9 K contract 1.4 K Long contract were added by FII and 23.4 K Shorts were added by FII. Net FII Long Short ratio at 0.65 so FII used fall to enter long and enter short in Index Futures.

We have discussed the importance of Double Ingress in below video its very important for trend change or trend continuation with more Intensity. We have formed a perfect Doji now bulls need a close above 15950 for reversal confirmation. Bull need to move above 15900 for a move towards 15962/16024/16087. Bears need to move below 15774 for a move towards 15711/15628/15565


Intraday time for reversal can be at 9:44/10:29/11:51/12:41/1:39/2:48    How to Find and Trade Intraday Reversal Times

MAX Pain is at 16000 PCR at 0.73 , Rollover cost @16997  closed below it. 

Nifty March Future Open Interest Volume is at 1.25 Cores with liquidation of 2.87 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 300 points and other day 300 point up.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.

There was fear all around. We are with the same VIX,Another interesting observation The Friday Selling in last 30 mins led to a gap down opening today. Today Last 30 mins can lead to gap up opening :).

PCR below 0.9 and above 1.3 lead to trending moves, and in between leads to range bound markets. So, after all the mayhem, we are probably returning to sanity is what is indicated by the rising PCR.

Nifty is extremely pessimistic -so be prepared for a short term bounce. I do not recommend buying of options at this moment, because the volatality and hence the premium of options is very high. So, it is difficult to make money even if the market moves in our expected direction. Deal with futures or option writing for some days. If it is a must that you have to only deal with buying of options then resort to day trading. 🙂

Retailers have bought 664 K CE contracts and 605 K  CE contracts were shorted  by them on Put Side Retailers bought 289 K PE contracts and 282 K  PE  contracts were shorted by them suggesting having BEARISH outlook,On Flip Side FII bought 64.6 K CE contracts and 71 K CE were shorted by them, On Put side FII’s bought 32 K PE and 39 K PE were shorted by them suggesting they are having  to BULLISH Bias

FII’s sold  7482 cores and DII’s bought 5331 cores in cash segment.INR closed at 77.23

For Positional Traders Stay long till we are holding Trend Change Level 16073  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 15848 will act as a Intraday Trend Change Level.

  Buy Above 15900 Tgt 15944, 15970 and 16605 (Nifty Spot Levels)

Sell Below 15828 Tgt 15785, 15729 and 15666 (Nifty Spot Levels)

As always I wish you maximum health and trading success

Category: Daily Nifty50

About Bramesh

Bramesh Bhandari has been actively trading the Indian Stock Markets since over 15+ Years. His primary strategies are his interpretations and applications of Gann And Astro Methodologies developed over the past decade.

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