FII bought 11.8 K contract of Index Future worth 1155 cores, Net OI has decreased by 14.7 K contract 1.6 K Long contract were covered by FII and 13 K Shorts were covered by FII. Net FII Long Short ratio at 1.45 so FII used fall to exit Long and exit short in Index Futures.
Nifty has fallen for 3 days in a row and 441 points in total, price has closed below 20 DMA, and we have important astro/gann date coming on 19-20 Dec so trade cautiously as next week we will see atleast 500 points move in Nifty.
Swing Plan Bulls need to move above 18311 for a move towards 18379/18448 . Bears will get active below 18243 for a move towards 18174/18106– All Target done.
We have Jupiter Ingress today as discussed in below video price is back above 18351 seems like falase breakdown and today we have important gann date also so we should see good move in next 2 trading session.
Swing Plan Bulls need to move above 18447 for a move towards 18514/18582/18649 . Bears will get active below 18379 for a move towards 18312/18244
MAX Pain is at 18500 PCR at 0.88 PCR below 0.78 and above 1.3 lead to trending moves, and in between leads to range bound markets.
Retailers have bought 68 K CE contracts and 245 K CE contracts were shorted by them on Put Side Retailers bought 109 K PE contracts and 85 K PE shorted contracts were added by them suggesting having BEARISH outlook.
FII bought 325.4 K CE contracts and 15.1 K CE were shorted by them, On Put side FII’s bought 62 K PE and 86 K PE were shorted by them suggesting they have a turned to BULLISH Bias.
Maximum Call open interest of 52 lakh contracts was seen at 18500 strike, which will act as a crucial resistance level and Maximum PUT open interest of 42 lakh contracts was seen at 18300 strike, which will act as a crucial Support level
Nifty Dec Future Open Interest Volume is at 1 Cr with liquidation of 3 Lakh with increase in Cost of Carry suggesting Long positions were closed today.
Nifty Rollover cost @18392 and Rollover % @75.1 Closed above it.
Till Nifty is below 18454 on closing basis Bears will have upper hand.
FII’s sold 538 cores and DII’s bought 687 cores in cash segment.INR closed at 81.68
#NIFTY50 as per musical octave trading path can be 17744-18272-19800 take the side and ride the move !!
If you work hard and approach trading intelligently, you deserve success. But it takes persistence and the right mental attitude.
Positional Traders Trend Change Level is 18686 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 18428 will act as a Intraday Trend Change Level.