FII bought 21.4 K contract of Index Future worth 1822 cores, Net OI has decreased by 26.2 K contract 2.4 K Long contract were covered by FII and 23.8 K Shorts were covered by FII. Net FII Long Short ratio at 0.84 so FII used rise to exit long and exit short in Index Futures.
As Discussed in Last Analysis 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. Again a gap up open and we will se impact of astro date for swing traders Bulls need a move above 17097 for a move towards 36217162/17227. Bears will have chance below 16967 for a move towards 16902/16837
Intraday time for reversal can be at 9:15/10:31/11:51/12:27/1:54/2:520 How to Find and Trade Intraday Reversal Times
MAX Pain is at 16900 PCR at 0.83 , 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 17000 and reasonable resistance at 17300 .
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.
Remember, the people in pain, will be subjected to more pain during expiry. So, this month, bulls are in pain, and there might be more pain for them around expiry. Last Expiry Happened at 16594 we are trading at 16975 so a move of 391 points so bulls have upper hand now.
Globe is rallying before the key event of FOMC. Rain might be around. Have a rain coat with you.
Tommrow is last trading day for the week and we will open 21 march Mercury Conjunct Saturn HELIO is important event so carry position with hedge or aviod taking positions and enjoy the festival with family without stress.
FII’s bought 311 cores and DII’s bought 772 cores in cash segment.INR closed at 76.29.
Retailers have sold 206 K CE contracts and 34.7 K CE short contracts were covered by them on Put Side Retailers bought 438 K PE contracts and 362 K PE contracts were shorted by them suggesting having BEARISH outlook,On Flip Side FII bought 64.5 K CE contracts and 21.8 K CE were shorted by them, On Put side FII’s bought 43.2 K PE and 42.2 K shorted PE were covered by them suggesting they are having to BULLISH Bias
For Positional Traders Stay long till we are holding Trend Change Level 16485 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 16938 will act as a Intraday Trend Change Level.