Nifty Analysis for 17 Sep

By | September 16, 2021 9:30 pm

  • FII  bought 2.1 K contract of Index Future worth 234 cores, Net OI has decreased by 5 K contract 1.7 K  Long contract were covered by FII and 3.8 K Shorts were covered by FII. Net FII Long Short ratio at 1.59 so FII used rise to exit longs and exit shorts.
  • As Discussed in Last Analysis  Disciplined market particpants were rewarded as 2 target done above 17400. No waiting for final target of 17576. Bulls and Bears will fight for very important level of 17576 as this level will decide the next 500 points move in Index. Bulls need to move above 17601 for upmove towards 17665/17732/17798. Bears will get active below 17466 for a move back to  17400/17334/17269.We 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.

  • A flat day. Though the trading volumes are high, not much changes are visible either in the FII activity on Nifty Future OI. It is a pause day before both the bulls and bear camps plan their next course of action. Culmination of  Astro Dates Mars going Ingress on 14 should act as a trigger for big move.  Got the big move as per expecatation. 17576 should be watched very closely now on weekly closing basis.
  • 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 3.2 Cores on the Call side and 4.32 Cores on the Put side. More OI on PUT side suggesting Bullish sentiment in market players.
  • The Option Table data indicates decent support at 17500 and reasonable resistance at 17700.
  • It was decent rally which caused maximum pain to maximum participants as most retail traders lose money by looking for a trending move in non-trending environments and staying out in trending environments.
  • FII bought 1621 crore and DII sold 795 cores. USD Closed at 73.67
  • For Positional Traders Stay long till we are holding Trend Change Level 17206 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 17565 will act as a Intraday Trend Change Level. 

Buy Above 17650 Tgt 17679, 17700 and 17729 (Nifty Spot Levels)

Sell Below 17594 Tgt 17576, 17550 and 17525 (Nifty Spot Levels)

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