FII sold 28.3 K contract of Index Future worth 2560 cores, Net OI has decreased by 4.7 K contract 16.5 K Long contract were covered by FII and 11.8 K Shorts were added by FII. Net FII Long Short ratio at 1.50 so FII used fall to exit longs and enter shorts.
As Discussed in Last AnalysisWe got the big move as per expecation and did the all targets on upside so astro date worked perfectly once 14 Sep high was taken out as discussed in video. Now Bulls need to move hold 17576 for upmove to continue towards 17665/17732/17798. Bears have there chance below 17555 for a move back to 17495/17424. We saw the impact of Mars Plannet and we saw the big fall in last few days. Till Bank Nifty is below 17424 we can see fall towards 17263. Fresh Swing Shorts can be taken below 17358 for a move towards 17292/17226/17161 . Swing Longs only above 17490 for a move back to 17556/17622/17700.
MAX Pain is at 17500 PCR at 0.63,PCR below 0.9 and above 1.3 lead to trending moves, and in between leads to range bound markets so another big move coming. VIX also saw a big jump.
Nifty Sep Future Open Interest Volume is at 1.52 Cores with addition of 0.22 Lakh with increase in cost of carry suggesting LONG positions were added today.
There is total OI of 5.96 Cores on the Call side and 3.67 Cores on the Put side. More OI on CALL side suggesting Bearish sentiment in market players.
The Option Table data indicates decent support at 17200 and reasonable resistance at 17700.
Retailers have bought 584 K CE contracts and 416 K CE contracts were shorted by them on Put Side Retailers sold 78.4 K PE contracts and 3.9 K PE shorted contracts were covered by them suggesting having BULLISH outlook,On Flip Side FII sold 26 K CE contracts and 7.1 K CE were shorted by them, On Put side FII’s bought 2.7 K PE and 10 K PE were shorted by them suggesting they have a turned to neutral Bias.
FII bought 92 crore and DII sold 1626 cores. USD Closed at 73.78
For Positional Traders Stay long till we are holding Trend Change Level 17250 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 17485 will act as a Intraday Trend Change Level.