FII bought 14.4 K contract of Index Future worth 1158 cores, Net OI has increased by 19.7 K contract 17.1 K Long contract were added by FII and 2.6 K Shorts were added by FII. Net FII Long Short ratio at 0.72 so FII used fall to enter long and enter short in Index Futures.
As discussed in Last Analysis It was a day of whipsaw still Bears were able to do 1 target on downside.Tommrow we have Jupiter Declination and we will see good trending move in nifty in coming 2 trading sessions. Now for Swing Traders Longs above 16158 for a move towards 16222/16286/16350. Bears will get active below 16094 for a move towards 16030/15966/15902. Nifty opened with gap up and did not sustain above our entry point. Now tommrow we will see impact of Jupiter and also we are having gann embelem from 19 Oct 2021 on Nifty so as both gann and astro dates are coming together we should see a good move in the market, Swing Traders Longs above 16094 for a move towards 16158/16222/16286. Bears will get active below 15966 for a move towards 15902/15841/15777.
Intraday time for reversal can be at 10:03/11:20/12:35/2:12/2:53 How to Find and Trade Intraday Reversal Times
MAX Pain is at 16100 PCR at 0.82 , Rollover cost @17121 closed below it and rollover @65.6 lowest in 3 months. PCR below 0.9 and above 1.3 lead to trending moves, and in between leads to range bound markets.
Nifty May Future Open Interest Volume is at 0.47 Cores with liquidation of 14.5 Lakh with decrease in cost of carry suggesting LONG positions were closed today.
Maximum Call open interest of 65 lakh contracts was seen at 16200 strike, which will act as a crucial resistance level and Maximum PUT open interest of 90 lakh contracts was seen at 16000 strike, which will act as a crucial Support level
FII’s sold 1803 cores and DII’s bought 2229 cores in cash segment.INR closed at 77.80
Tommrow we have Jupiter and Moon Declination it leads to Major Tunring Point in Banks and Financials and Oil and Gas Stocks.
Retailers have bought 620 K CE contracts and 450 K CE contracts were shorted by them on Put Side Retailers bought 7.3 K PE contracts and 6.4 K PE shorted contracts were added by them suggesting having BULLISH outlook,On Flip Side FII sold 481 CE contracts and 43.6 K CE were shorted by them, On Put side FII’s sold 2.3 K PE and 20.9 K shorted PE were covered by them suggesting they have a turned to Bearish Bias.
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For Positional Traders Stay long till we are holding Trend Change Level 16367 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 16081 will act as a Intraday Trend Change Level.