FII sold 2.6 K contract of Index Future worth 224 cores, Net OI has decreased by 1.8 K contract 2.2 K Long contract were covered by FII and 399 Shorts were added by FII. Net FII Long Short ratio at 1.10 so FII used fall to exit long and enter short in Index Futures.
As Discussed in Last Analysis We have important Astro Events happening on weekend so be cautious in carrying overnight positions in weekend. Close around 17329 would be best for coming week. For Swing traders Bears need to move below 17201 for a move towards 17136/17071/17006. Bulls will get active above 17267 for a move towards 17332/17397. 17076 was the low almost did 2 targets below 17201. For Swing traders Bears need to move below 17112 for a move towards 17046/16980/16914. Bulls will get active above 17244 for a move towards 17310/17376/17442.
Intraday time for reversal can be at 9:34/11:40/12:20/1:11/2:23 How to Find and Trade Intraday Reversal Times
MAX Pain is at 17100 PCR at 0.99, 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 0.98 Cores with liquidation of 3.9 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 17400.
Retailers have bought 509 K CE contracts and 523 K CE contracts were shorted by them on Put Side Retailers bought 255 K PE contracts and 282 K PE contracts were shorted by them suggesting having BULLISH outlook,On Flip Side FII bought 42.1 K CE contracts and 46.9 K CE were shorted by them, On Put side FII’s bought 24.9 PE and 26.3 K PE were shorted by them suggesting they are still having NEUTRAL Bias
Bayer Rule 6: The price is in bottom when Mars was in 16 degrees 35 minutes of some sign and plus 30 degrees and Bayer Rule 27: Big tops and big major bottoms are when Mercury’s speed in Geocentric longitude is 59 minutes or 1 degree 58 minutes, Mercury moving in Aries and Mercury Conjunct Jupiter HELIO. These 4 Astro events are happening on 27 and 28 March suggesting it will be High Energy day and lead to big move in market. First 15 Mins High and Low on Monday will decide the trend for the whole week.
FII’s sold 1507 cores and DII’s bought 1373 cores in cash segment.INR closed at 76.13
One Of The Main Reasons So Many Fail When Trading. They Trade Their Emotions And Not Their Trades next week will be high energy week so aviod trading based on emotions. Any close below 17028 will be highly bearish.
For Positional Traders Stay long till we are holding Trend Change Level 17244 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 17185 will act as a Intraday Trend Change Level.