FII bought 24.9 K contract of Index Future worth 2344 cores, Net OI has decreased by 28.2 K contract 1.6 Long contract were covered by FII and 26.5 K Shorts were covered by FII. Net FII Long Short ratio at 0.23 so FII used rise to exit Long and exit short in Index Futures.
Nifty did not break the budget day low and closed near the budget day close of 17616 . Range of 17576-17616 is dicey range. CLosing above and below will give clear direction, Mercury Extreme Declination tommrow so first 15 mins High and low will guide. Low made was 17584 so bulls were able to hold 17576 and we saw a big rally in Nifty. Now “Bayer Rule 2: Trend goes down within 3 days when the speed difference between Mars and Mercury is 59 minutes. Leads to Big Move ” we are moving into crucial range of 17870-17900 which bulls need to cross for the rally to continue towards 18025-18070-18225.
MAX Pain is at 17700 PCR at 0.95 Markets tend be range-bound when PCR OI (Open Interest) ranges between 0.90 and 1.05.
Maximum Call open interest of 30 lakh contracts was seen at 17900 strike, which will act as a crucial resistance level and Maximum PUT open interest of 20 lakh contracts was seen at 17500 strike, which will act as a crucial Support level
Nifty Feb Future Open Interest Volume is at 1 Cr with liquidation of 6.8 Lakh with increase in Cost of Carry suggesting Long positions were closed today.
Nifty Rollover cost @18169 and Rollover % @75 Closed below it.
Retailers have bought 471 K CE contracts and 550 K CE contracts were shorted by them on Put Side Retailers bought 134 K PE contracts and 112 K PE shorted contracts were added by them suggesting having BULLISH outlook.
FII sold 4.3 K CE contracts and 17.3 K CE were shorted by them, On Put side FII’s bought 34.6 K PE and 17.4 K PE were shorted by them suggesting they have a turned to neutral Bias.
Nifty Bulls now need to hold 17744 for trend to remain buy on dips.
FII’s sold 932 cores and DII’s bought 1264 cores in cash segment.INR closed at 81.60
#NIFTY50 as per musical octave trading path can be 17274-17538-17804-18072 take the side and ride the move !!
No amount of study or practice can make one successful in the handling of capital if one really is not cut out for it.