FII bought 16.9 K contract of Index Future worth 1395 cores, Net OI has decreased by 17.6 K contract 369 Long contract were covered by FII and 17.2 K Shorts were covered by FII. Net FII Long Short ratio at 0.22 so FII used rise to exit long and exit short in Index Futures.
As Discussed in Last Analysis Bears unable to break 15892 and bUlls above 15956 did 16020 and now wating for 16084/16147 which should be done with gap up open, Again Astro helped us in getting the right reversal point and levels helped in capturing the move. Now Bulls need to move above 16236 for a move towards 16299/16361. Bears will get active above 16047 for a move towads 15984/15921/15858. Bulls were able to move above 16236 and did 16299 and now waiting for 16361 where we will hit the gann angle. We have Mercury Ingress tommorow so Rally can continue towards 16594.
Intraday time for reversal can be at 10:33/11:34/1/1:27/2:36 How to Find and Trade Intraday Reversal Times
MAX Pain is at 16200 PCR at 0.95 PCR below 0.87 and above 1.3 lead to trending moves, and in between leads to range bound markets.
Nifty July Future Open Interest Volume is at 1.09 Cores with liquidation of 10 Lakh with decrease in cost of carry suggesting Short positions were closed today.
Nifty rollover cost @ 15801 and Rollover @66.1 % Closed above the rollover level suggesting bias is Bullish
Nifty Future have 73 Lakh OI added in range of 15933-15670 price zone out of today 1.19 Cores which is more than 60% and yesterday we have closed above 15933 suggesting we should see a move towards 16253 and any close above it Bears will be under water and will rally price towards 16500 by next week based on OI data. Closed above 16253 waiting for 16500.
Maximum Call open interest of 34 lakh contracts was seen at 16400 strike, which will act as a crucial resistance level and Maximum PUT open interest of 24 lakh contracts was seen at 16000 strike, which will act as a crucial Support level. There is total OI of 13.2 Cr on the Call side and 14.2 Cr on the Put side. So, the activity is more on PUT side indicating Option Writers are having BULLISH Bias.
FII’s bought 156 cores and DII’s bought 1340 cores in cash segment.INR closed at 77.95
Retailers have bought 156 K CE contracts and 19 K CE contracts were shorted by them on Put Side Retailers bought 849 K PE contracts and 176 K shorted PE contracts were coveed by them suggesting having BEARISH outlook,On Flip Side FII bought 72.6 K CE contracts and 8.8 K CE were shorted by them, On Put side FII’s bought 7.1 K PE and 53.6 K PE were shorted by them suggesting they have a turned to BULLISH Bias.
Above 16108 rally towards 16573 as per Musical Octave. Closed above 16108 heading towards 16573.
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