FII bought 8 K contract of Index Future worth 742 cores, Net OI has decreased by 10.5 K contract 1.2 K Long contract were covered by FII and 9.2 K Shorts were covered by FII. Net FII Long Short ratio at 1.56 so FII used fall to exit longs and exit shorts.
As Discussed in Last AnalysisAs we have 2 major event tommrow Autumnal Equinox and Venus in Oppostion wtih Uranus first 15 mins high and low will decide the trend of the market.Bulls need to move above 17590 for a move back to 17656/17723/17789. Bears will get active below 17525 for a quick move towards 17461/17365/17329. Hope all of you had safe trading,We saw the impact of Astro dates today as soon as 22 High broken in gap up and Bulls had field day did all time high Now Bulls need to move above 17846 for a move towards 17913/17980/18047 . Bears will get active below 17745 for a move towards 17698/17610. Till 17584 is held we can rally till 18118.
MAX Pain is at 17600 PCR at 1.01 ,PCR below 0.9 and above 1.3 lead to trending moves, and in between leads to range bound markets.
Nifty Sep Future Open Interest Volume is at 1.23 Cores with liquidation of 3.6 Lakh with increase in cost of carry suggesting SHORT positions were closed today,so rally was induced by short covering. Short covering leads to a price rise. But, it weakens the market internally. So, is market structure weakening? We will know in the next 2 days.
There is total OI of 4.09 Cores on the Call side and 5.36 Cores on the Put side. More OI on PUT side suggesting BULLISH sentiment in market players. FII bought high amount of options in the last 2 days – The volume is generally on the higher side negating the possibility of sideways movement we can see explosive expiry tommrow. Moved as per expectation.
The Option Table data indicates decent support at 17500 and reasonable resistance at 17800.
We are living in an insane world – Fed confirm Taper is ON that might stop the printing press – And we rally on Bad news. So, dont be surprised if markets appear irrational. It is always the minority which wins in the markets. So, be open for possibilities if you want to be a consistently profitable trader.
FII bought 357 crore and DII bought 1173 cores. USD Closed at 73.75
For Positional Traders Stay long till we are holding Trend Change Level 17301 and stay short below it. That will help you stay on the side of Institutions and which has a greater risk-reward ratio. For Intraday Traders 17757 will act as a Intraday Trend Change Level.