Nifty Technical Analysis and Insights

By | September 30, 2021 9:30 pm

  • FII  sold 27.3 K contract of Index Future worth 2468 cores, Net OI has decreased by 33.6 K contract 3.8 K Long contract were covered by FII and 29.7 K Shorts were added by FII. Net FII Long Short ratio at 1.3 so FII used fall to exit longs and exit shorts.
  • As discussed in Last Analysis As we have expiry tommrow and Half yearly closing also last hour should be volatile. Now Bulls need to move above 17741 for a move towards 17807/17874/17941. Bears will have chance below 17674  for a move towards 17608/17555. Bulls were not able to breach 17742  and bears did 1 target on downside, We are still trading with in 29 Sep range when we had important astro date. Bears need to break 17576 for a quick 17512/17476/17410 Bulls need to move 17651 for a move towards 17718/17754/17851

  • Intraday time for reversal can be at  9:42/11:26/12:36/1:22/2:09/2:48 How to Find and Trade Intraday Reversal Times
  • MAX Pain is at 17650 PCR at 0.83.
  • Nifty Oct Future Open Interest Volume is at 1.16  Cores with addition of 32.4 Lakh with decrease in cost of carry suggesting SHORT positions were added today.
  • There is total OI of 4.2 Cores on the Call side and 3.5 Cores on the Put side. More OI on CALL side suggesting Bearish sentiment in market players.
  • The Option Table data indicates decent support at 17650 and reasonable resistance at 17800.
  • There has been 32.4  L contract roll-over happened today. When you add 25.7 L contracts rolled over yesterday, we have 57 L contracts have been rolled over between 17975 -17604 price zone. Considering that we are having around 1.16 CR OI  this is approximately 50%. So, this price zone will have a crucial bearing in the October series.
  • My observation is – Institutions short – Big Bears Short – Market Falls – Big Bears Cover – Pigs Short -Institutions Cover – Market Rallies for the Pigs to get slaughtered. 🙂 From the first impression, looks a lot of pigs shorted the market on Debt Ceiling news. Rollover Price is at 17761 and Rollover % @ 71.5.
  • FII sold 2225 crore and DII bought 87 cores. USD Closed at 74.49
  • For Positional Traders Stay long till we are holding Trend Change Level 17676 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 17676 will act as a Intraday Trend Change Level. 

Buy Above 17633 Tgt 17666, 17699 and 17729 (Nifty Spot Levels)

Sell Below 17576 Tgt 17545, 17515 and 17485 (Nifty Spot Levels)

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