FII bought 20.7 K contract of Index Future worth 1797 cores, Net OI has decreased by 42.4 K contract 5.2 K Long contract were covered by FII and 37.2 K Shorts were covered by FII. Net FII Long Short ratio at 1.34 so FII used fall to exit long and exit short in Index Futures.
As Discussed in Last AnalysisFor Swing traders bulls need a move above 16695 for a move towards 16759/16823/16887.Bears will get active below 16567 for a move towards 16502/16438. We have JUpiter Retrograde tommrow so first 15 mins high and low will guide us and also formed Outside Bar pattern suggesting today low is not breached we are heading towards 17000. 17000 will be done today after another gap up open and on 17 JUne we made low of 15183 and today 29 July we are above 17000 with Fed raising intrest rate and recessioon cry everywhere time changes quickly in stock market, Now today we have Monthly closing so bulls would like to close above 200 DMA @17029. For Swing traders bulls need a move above 17134 for a move towards 17199/17263.Bears will get active below 17069 for a move towards 17055/16940.
Intraday time for reversal can be at 9:53/10:50/12:42/1:15/1:54 How to Find and Trade Intraday Reversal Times
MAX Pain is at 17000 PCR at 1.09 PCR below 0.87 and above 1.3 lead to trending moves, and in between leads to range bound markets.
Nifty Aug Future Open Interest Volume is at 0.89 Cores with addition of 30.1 Lakh with increase in cost of carry suggesting Long positions were added today.
We are living in an insane world – Fed confirm intrest rate hike of 75/100 BPS – And we rally on Bad news. So, dont be surprised if markets appear irrational.
Maximum Call open interest of 19 lakh contracts was seen at 17200 strike, which will act as a crucial resistance level and Maximum PUT open interest of 11 lakh contracts was seen at 17000 strike, which will act as a crucial Support level. There is total OI of 3.2 Cr on the Call side and 4.2 Cr on the Put side. So, the activity is more on PUT side indicating Option Writers are having BULLISH Bias.
Jupiter Retrograde will end of 23 Novemeber so High 16947 and Low of 16746 will be valid till 23 November, Break of ANy side will lead to minimum 555 points move.
FII’s bought 1637 cores and DII’s bought 600 cores in cash segment.INR closed at 77.85
#NIFTY50 READY for another 500 points move in next 4 trading session as per musical octave 16108-16573-17066 take the side and ride the move !! — 17066 done today now waiting for 17162
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