FII sold 14.4 K contract of Index Future worth 1229 cores, Net OI has decreased by 6.1 K contract 9.7 K Long contract were covered by FII and 4.7 K Shorts were added by FII. Net FII Long Short ratio at 0.70 so FII used fall to exit long and enter short in Index Futures.
As Discussed in Last Analysis Nifty 200 DMA is at 16972 level to be watched out tommrow. 16972-17011 is zone of resistance so try to lighten up longs in this zone. Bulls need a move above 16928 for a move towards 16993/17057/17122. Bears below 16799 can see fall towards 16735/16670/16006. We are at 99 days from 19 Oct top. We have an important astro date tommorow MERCURY LATITUDE HELIOCENTRIC Some mighty fine tops and bottoms are produced when Mercury in this motion passes the above mentioned degrees 0, 3*21,6*42, and 7*0’. First 15 mins High and Low will decide the trend of the day. Bulls need to above 16876 for a move towards 16941/17005/17069 Bears will get active below 16683 for a move back to 16619/16555.
Intraday time for reversal can be at 9:16/10:34/11:42/12:37/1:31/2:20 How to Find and Trade Intraday Reversal Times
MAX Pain is at 16700 PCR at 0.87 , Rollover cost @16997 closed below it.
Nifty March Future Open Interest Volume is at 1.27 Cores with liquidation of 2.9 Lakh with increase in cost of carry suggesting LONG positions were closed today.
The option table data indicates decent support at 16500 and reasonable resistance at 17000.
It was decent rally which caused maximum pain to maximum participants as most retail traders lose money by looking for a trending move in non-trending environments and staying out in trending environments.
We do not get into strong bull trend with out sufficient backup in the equity segment. Probably the institutions also are adopting a wait-and-watch policy till the Fed Policy – and are playing the market with a very short term outlook – perhaps manipulating the index on a series by series basis.
Globe is rallying before the key event of FOMC. Rain might be around. Have a rain coat with you.
Today intraday rise was Smart money or Foolish bears – Future will decide.
FII’s sold 1249 cores and DII’s bought 98 cores in cash segment.INR closed at 76.62.
Retailers have bought 660 K CE contracts and 483 K short CE contracts were shorted by them on Put Side Retailers sold 44.8 K PE contracts and 13.9 K PE contracts were shorted by them suggesting having BULLISH outlook,On Flip Side FII bought 35.8 K CE contracts and 57.2 K shorted CE were covered by them, On Put side FII’s bought33.8 47 K PE and 18.9 K PE were shorted by them suggesting they are having to BEARISH Bias
For Positional Traders Stay long till we are holding Trend Change Level 16450 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 16755 will act as a Intraday Trend Change Level.