FII bought 16.1 K contract of Index Future worth 1521 cores, Net OI has decreased by 5.5 K contract 5.2 K Long contract were added by FII and 10.8 K Shorts were covered by FII. Net FII Long Short ratio at 2.1 so FII used fall to exit long and exit short in Index Futures.
Another low volume day in Nifty. “Bayer Rule 15: VENUS HELIOCENTRIC LATITUDE AT EXTREME AND LEAST SPEEDS FOR MAJOR MOVES Imp Rule”should add mometum.
Another sideways day and low volume tommrow Jupiter is going Direct so we can see range expnasion in NIfty.
For Swing Trade Bulls need to move above 18170 for a move towards 18238/18306/18374 . Bears will get active below 18102 for a move towards 18034/17966/17898. — 18238 done now waiting for 18306/18374
Intraday time for reversal can be at 10:02/11:43/12:53/1:53/2:25 How to Find and Trade Intraday Reversal Times
MAX Pain is at 18300 PCR at 0.856 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 32 lakh contracts was seen at 18400 strike, which will act as a crucial resistance level and Maximum PUT open interest of 14 lakh contracts was seen at 18000 strike, which will act as a crucial Support level
Nifty Nov Future Open Interest Volume is at 0.81 Cr with liquidation of 14.5 Lakh with decrease in cost of carry suggesting Long positions were closed today.
Retailers have sold 383 K CE contracts and 194 K CE contracts were shorted by them on Put Side Retailers bought 430 K PE contracts and 250 K PE shorted contracts were added by them suggesting having BEARISH outlook.
FII sold 9.9 K CE contracts and 51 K CE were shorted by them, On Put side FII’s bought 9 K PE and 86.7 K PE were shorted by them suggesting they have a turned to BULLISH Bias.
18261 above only BUlls will make a comeback, else bears can push towards 18028/17969.
FII’s sold 687 cores and DII’s bought 636 cores in cash segment.INR closed at 81.80
#NIFTY50 as per musical octave trading path can be 17551-18058-18595 take the side and ride the move !!
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Positional Traders Trend Change Level is 18197 on Futures go long and short above/below it That will help you stay on the side of Institutions and which has a greater risk-reward ratio. Intraday Traders 18242 will act as a Intraday Trend Change Level.