FII bought 12.3 K contract of Index Future worth 1113 cores, Net OI has decreased by 85K contract 33.6 K Long contract were covered by FII and 51.3 Shorts were covered by FII. Net FII Long Short ratio at 2.79 so FII used fall to exit long and exit short in Index Futures.
As Discussed in Last Analysis Plan remains the same, Any close above 17507 can lead to rally towards 17576/17666. Bears will have chance below 17405 for a move towards 17323/17275. Bulls again got whipsawed above 17507, Its been 2 days of sideways move so we can expect range expansion today as we have NEW MOON today and multiple astro events in weekend. Price has also teacted from trendline resistance as show below in Supply Demand Chart. Plan remains the same, Any close above 17507 can lead to rally towards 17576/17666. Bears will have chance below 17405 for a move towards 17323/17275. First 15 mins HIgh and low will decide the trend of the day,
Intraday time for reversal can be at 9:46/11:42/12:32/1:43/2:40 How to Find and Trade Intraday Reversal Times
MAX Pain is at 17500 PCR at 0.89 , Rollover cost @17418 closed above it. Rollover % is @65.8 lowest in alst 3 months. 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 1.22 Cores with additon of 27.5 Lakh with increase in cost of carry suggesting SHORT positions were added today.
The Option Table data indicates decent support at 17300 and reasonable resistance at 17600. There is total OI of 2.66 Cores on the Call side and 2.85 Cores on the Put side, So, the activity is more on the PUT side, indicating option writers are in BULLISH zone.
FII’s bought 3088 cores and DII’s bought 1415 cores in cash segment.INR closed at 75.98. FII buy also have MAX Deal of 3000 cr so no major buying seen by FII’s.
Best Wishes To Everyone For 2022-23. Try to go back to trades of last year and analyze your losers, Understand your mistake and vow not to repeat in new year. When a trade goes against us, it is tempting to find some external source to blame. Identifying a scapegoat may make us feel better in the short term, but we lose the benefit of examining our own decisions and looking for flaws in our thought process.
For Positional Traders Stay long till we are holding Trend Change Level 17555 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 17555 will act as a Intraday Trend Change Level.