FII sold 15.9 K contract of Index Future worth 357 cores, Net OI has increased by 1.8 K contract 1.6 K Long contract were covered by FII and 297 Shorts were covered by FII. Net FII Long Short ratio at 2.8 so FII used fall to exit long and exit short in Index Futures.
As Discussed in Last Analysis 17791-17828 range bulls have upper hand and its buy on dips market. For Swing Traders Bulls need to move above 17991 for a move towards 18058/18124/18191/18258. Bears will have chance below 17912 for a move towards 17845/17778/17710. High made was 17901 so bears got an oppurtunity and did 17778. Now Today we are near 17791-17828 range any clsoe below it will not be good for short term can lead fall towards 17600/17512. For Swing Traders Bulls need to move above 17845 for a move towards 17912/17980/18047. Bears will have chance below 17778 for a move towards 17710/17643/17576.
Intraday time for reversal can be at 9:21/10:32/11:14/12:20/1:29/2:18 How to Find and Trade Intraday Reversal Times
MAX Pain is at 17800 PCR at 0.88 , Rollover cost @17418 closed above it. PCR below 0.9 and above 1.3 lead to trending moves, and in between leads to range bound markets.
Nifty April Future Open Interest Volume is at 1.04 Cores with liquidation of 0.79 Lakh with increase in cost of carry suggesting LONG positions were closed today.
The Option Table data indicates decent support at 17700 and reasonable resistance at 17900 . There is total OI of 8.66 Cores on the Call side and 6.85 Cores on the Put side, So, the activity is more on the CALL side, indicating option writers are in BEARISH zone.
FII’s sold 2279 cores and DII’s bought 622 cores in cash segment.INR closed at 75.48.
06 April was Mars and Saturn Aspect ,High of 18095 and 17921 is valid for whole year Mark in on your charts and take trade on break of High and Low.
17828 again will give us 250-300 points move.
Retailers have bought 640 K CE contracts and 527 K CE contracts were shorted by them on Put Side Retailers bought 24.9 K PE contracts and 42.5 K shorted PE contracts were covered by them suggesting having BULLISH outlook,On Flip Side FII sold 12.8 K CE contracts and 6.2 K PE were shorted by them, On Put side FII’s bought 15.9 K PE and 19.7 K shorted PE were covered by them suggesting they have a turned to NEUTRAL Bias.
Many people come and go in the market because it is against human nature to adhere to the rules all of the time. They require inhuman self-control. I know of so very few arenas where so much concentration is required and so much is at stake. It really is like being engaged in hand-to-hand combat. Instead of your life, it is your money that’s on the line.
For Positional Traders Stay long till we are holding Trend Change Level 17826 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 17888 will act as a Intraday Trend Change Level.