Mercury Retrograde Nifty Analysis

By | September 28, 2021 9:23 am

  • FII  bought 6.2 K contract of Index Future worth 571 cores, Net OI has increased by 14.9 K contract 10.5 K  Long contract were added by FII and 4.3 K Shorts were added by FII. Net FII Long Short ratio at 1.55 so FII used rise to enter longs and enter shorts.
  • We had Mercury Retrograde yesterday as discussed in below video . Break of 17956 on Upside will lead to 150-200 points move and Bears need to break 17800 for a move of 150-200 on downside. Now Bulls need to cross 17956 for a move towards 18007/18072/18118. 18118 is important level to be watched out for as Gann Cycle which started from 17584 will complete at 18118 . Bears will have chance below 17850 for a move towards 17790/17729/17650

  • Intraday time for reversal can be at  9:41/10:52/11:39/12:34/1:40/2:22 How to Find and Trade Intraday Reversal Times
  • MAX Pain is at 17750 PCR at 0.98 ,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 1.10 Cores with liquidation of 10.3 Lakh with increase in cost of carry suggesting LONG positions were closed today
  • There is total OI of 4.5 Cores on the Call side and 5.5 Cores on the Put side. More OI on PUT side suggesting BULLISH sentiment in market players. 
  • The Option Table data indicates decent support at 17750 and reasonable resistance at 18000.
  • Retailers have bought 331 K CE contracts  and 365 K CE contracts were shorted by them on Put Side Retailers bought 249 K PE contracts and 229 K PE shorted contracts were added by them suggesting having BULLISH outlook,On Flip Side FII bought 16.1 K CE contracts and 47 K CE were shorted by them, On Put side FII’s bought 35 K PE and 28.5 K PE were shorted by them suggesting they have a turned to neutral Bias.
  • FII sold 594 crore and DII bought 1397 cores. USD Closed at 73.82
  • For Positional Traders Stay long till we are holding Trend Change Level 17354 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 17875 will act as a Intraday Trend Change Level. 

Buy Above 17920 Tgt 17945, 17980 and 18007 (Nifty Spot Levels)

Sell Below 17850 Tgt 17825, 17790 and 17743 (Nifty Spot Levels)

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