FII sold 7.4 K contract of Index Future worth 666 cores, Net OI has increased by 8.7 K contract 664 Long contract were added by FII and 8 K Shorts were added by FII. Net FII Long Short ratio at 0.80 so FII used fall to enter Long and enter short in Index Futures.
Bayers Rule will show its impact tommrow also we have important gann date today as shown below chart. We should see big move in next 2 trading session, Levels are clearly mentioned below.
Price has been struglling to cross the gann angle at 18255, once crossed and sustained will lead to impulsive move.
For Swing Traders Bulls need to move above 18225 for a move towards 18279/18343/18408/18472. Bears will get active below 18066 for a move towards 18022/17957/17893.
MAX Pain is at 18300 PCR at 1.05 Markets tend be range-bound when PCR OI (Open Interest) ranges between 0.90 and 1.05.
Maximum Call open interest of 32 lakh contracts was seen at 18300 strike, which will act as a crucial resistance level and Maximum PUT open interest of 32 lakh contracts was seen at 18100 strike, which will act as a crucial Support level
Retailers have sold 204 K CE contracts and 71 K CE contracts were shorted by them on Put Side Retailers bought 255 K PE contracts and 209 K PE shorted contracts were added by them suggesting having BEARISH outlook.
FII bought 87 K CE contracts and 867 CE were shorted by them, On Put side FII’s bought 30 K PE and 28.3 K PE were shorted by them suggesting they have a turned to BULLISH Bias.
Nifty Jan Future Open Interest Volume is at 1.09 Cr with addition of 2.8 Lakh with increase in Cost of Carry suggesting Long positions were added today.
Nifty Rollover cost @18178 and Rollover % @72.5 Closed above it.
Till Nifty is above 18075 on closing basis price can rally till 18255/18403
FII’s sold 628 cores and DII’s bought 350 cores in cash segment.INR closed at 81.84
#NIFTY50 as per musical octave trading path can be 17799-18066-18336 take the side and ride the move !!
Your goal as a TRADER is preparedness, to trade with few surprises. To do so, you need to develop a dependable way to handle virtually every situation that may occur.
Positional Traders Trend Change Level is 18244 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 18273 will act as a Intraday Trend Change Level.
Nice explain