FII sold 12.6 K contract of Index Future worth 1146 cores, Net OI has increased by 5 K contract 3.7 K Long contract were covered by FII and 8.8 K Shorts were added by FII. Net FII Long Short ratio at 1.23 so FII used fall to exit long and enter short in Index Futures.
As Discussed in Last Analysis For Swing traders Bears need to move below 17267 for a move towards 17201/17136/17071. Bulls will get active above 17397 for a move towards 17462/17527. Gap up open took resistance at the gann angle as shown below chart and fell down. For Swing traders Bears need to move below 17244 for a move towards 17178/17112/17046. Bulls will get active above 17310 for a move towards 17376/17442.
Intraday time for reversal can be at 9:34/10:06/11:10/11:56/1:24/2:24 How to Find and Trade Intraday Reversal Times
MAX Pain is at 17300 PCR at 0.94, Rollover cost @16997 closed above it. PCR below 0.9 and above 1.3 lead to trending moves, and in between leads to range bound markets.
Nifty March Future Open Interest Volume is at 1.06 Cores with liquidation of 6.1 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 17500.
Tommorow we have Gann Yealy cycle 24 March Covid crash date with Astro date Moon at Perigee so both gann and astro date coming so can lead to big move. First 15 Mins High and low will decide the trend of the day.
Do not get complacent with longs till we do not close above 17405-17456 zone, Basically range of 17405-17456 on upside and 16998-16930 on downside is strong supply and demand zone. Break of any side will lead to 400-500 points move. — Worked perfectly High made 17442 and a decent fall.
FII’s bought 418 cores and DII’s sold 294 cores in cash segment.INR closed at 76.40
Even the equity buying is very minimal – FII buying just enough to produce the rally.
Retailers have sold 929 K CE contracts and 727 K CE contracts were shorted by them on Put Side Retailers bought 67 K PE contracts and 80 K PE contracts were shorted by them suggesting having BEARISH outlook,On Flip Side FII bought 18.9 K CE contracts and 29 K CE were shorted by them, On Put side FII’s bought 514 PE and 2.6 K PE were shorted by them suggesting they are still having to BULLISH Bias
For Positional Traders Stay long till we are holding Trend Change Level 17261 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 17331 will act as a Intraday Trend Change Level.