FII sold 11.5 K contract of Index Future worth 1007 cores, Net OI has increased by 56.6 K contract 39.5 K Long contract were covered by FII and 17 K Shorts were covered by FII. Net FII Long Short ratio at 0.15 so FII used rise to enter long and enter short in Index Futures.
Intraday time for reversal can be at 9:23/10:44/11:42/12:22/1:14/2:30 How to Find and Trade Intraday Reversal Times
MAX Pain is at 17000 PCR at 0.75 PCR below 0.78 and above 1.3 lead to trending moves, and in between leads to range bound markets.
Maximum Call open interest of 12 lakh contracts was seen at 17000 strike, which will act as a crucial resistance level and Maximum PUT open interest of 12 lakh contracts was seen at 16500 strike, which will act as a crucial Support level
Nifty Oct Future Open Interest Volume is at 1.14 Cores with addition of 31 Lakh with increase in cost of carry suggesting Long positions were added today.
NIfty Rollover cost @ 17028 and Rollover is at 73.4 %.
FII’s sold 3599 cores and DII’s bought 3161 cores in cash segment.INR closed at 81.82
#NIFTY50 READY for another 500 points move as per musical octave 16565- 17044-17551 take the side and ride the move !!
The pain of being wrong seems to increase exponentially in relation to the size of the position. If we normally trade one lots and now we are trading twos, the degree of difficulty in acting quickly when we are wrong is not twice but perhaps five times as great. Herein lies the magic that seems to cast its spell on each traderís psyche. The pain to our ego is in proportion to the size of trades. Avoidance of pain is what keeps us from acting fast. Losing that fear is the key to success. We must trust the process.