Nifty Analysis of ahead of FOMC Meeting

By | September 21, 2021 9:30 pm

  • FII  bought 3.6 K contract of Index Future worth 283 cores, Net OI has increased by 7.1 K contract 5.3 K  Long contract were added by FII and 1.7 K Shorts were added by FII. Net FII Long Short ratio at 1.20 so FII used rise to enter longs and enter shorts.
  • As Discussed in Last Analysis  We saw the impact of Mars Plannet and we saw the big fall in last few days. Till 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. Shorts got whipsawed below 17358 but bulls were able to get the 1 target on upside, 17559 will play a crucial role tommrow. 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.

  • MAX Pain is at 17500 PCR at 0.97,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 1.28 Cores with liquidation of 7 Lakh with increase in cost of carry suggesting LONG positions were closed today.
  • There is total OI of 5.38 Cores on the Call side and 4.56 Cores on the Put side. More OI on CALL side suggesting Bearish sentiment in market players. Big Buy done by FII;s today in Options which seems like option buying so another big range should be seen.
  • The Option Table data indicates decent support at 17300 and reasonable resistance at 17700.
  • Retailers have sold 20.8 K CE contracts  and 55.8 K CE contracts were shorted by them on Put Side Retailers bought 257 K PE contracts and 228 K PE shorted contracts were added by them suggesting having BEARISH outlook,On Flip Side FII bought 44.3 K CE contracts and 28.2 K CE were shorted by them, On Put side FII’s bought 42.8 K PE and 37 K PE were shorted by them suggesting they have a turned to neutral Bias.
  • FII bought 1041 crore and DII bought 2167 cores. USD Closed at 73.72
  • For Positional Traders Stay long till we are holding Trend Change Level 17261 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 17450 will act as a Intraday Trend Change Level. 

Buy Above 17590 Tgt 17620, 17656 and 17699 (Nifty Spot Levels)

Sell Below 17525 Tgt 17488, 17452 and 17400 (Nifty Spot Levels)

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