FII sold 6.3 K contract of Index Future worth 580 cores, Net OI has decreased by 8.6 K contract 7.5 K Long contract were covered by FII and 1.1 K Shorts were covered by FII. Net FII Long Short ratio at 1.18 so FII used rise to exit longs and exit shorts.
As discussed in Last AnalysisNow Bulls need to protect the range of 17585-17601 for upmove towards 17650/17714/17780. Bears will get active below 17551 for a move towards 17485/17419/17353. Low made was 17640 so bulls were able to protect the range and did all target on upside. 3 important astro events are happening tommrow Mars YOD Uranus Key Turning Point Uranus effects short term prices when in aspect to inner planets and Moon Conjunct Mars 2 Important Aspects are forming and PLuto is changing sign to Caprocion they should have good Impacts on Market. Swing Shorts can be initiated below 17700 for a move towards 17633/17567. Swing Longs can be initiated below 17851 for a move towards 17918/17985/18048.
Nifty Oct Future Open Interest Volume is at 1.20 Cores with liquidation of 0.67 Lakh with decrease in cost of carry suggesting SHORT positions were closed today.
There is total OI of 4.85 Cores on the Call side and 5.02 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 17900. FII are buying more options than writing them,almost bought 72000 cores worth of options. Be prepared for a directional movement and new high.
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.Rollover Price is at 17761 and Rollover % @ 71.5. Bullswere able to close above 17761 rollover price today and 17604 NF also suggesting heading towards higher end of 17975.
Retailers have bought 38.3 K CE contracts and 87.3 K CE contracts were shorted by them on Put Side Retailers bought 254 K PE contracts and 209 K PE contracts were shorted by them suggesting having BEARISH outlook,On Flip Side FII bought 10.9 K CE contracts and 1.3 K CE were shorted by them, On Put side FII’s bought 5.7 K PE and 5.7 K PE were shorted by them suggesting they have a turned to BULLISH Bias.
FII sold 1915 crore and DII bought 1868 cores. USD Closed at 74.67
For Positional Traders Stay long till we are holding Trend Change Level 17647 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 17739 will act as a Intraday Trend Change Level.