FII sold 8.5 K contract of Index Future worth 737 cores, Net OI has decreased by 14.9 K contract 11.7 K Long contract were covered by FII and 3.1 K Shorts were covered by FII. Net FII Long Short ratio at 1.27 so FII used rise to exit longs and exit shorts.
As discussed in Last Analysisas we have important bayers rules are happening on weekend Bayer Rule 7: There are changes on market when Venus or Mars goes over its Aphelium Perihelium (Geocentric) happening on 02 Oct and Bayer Rule 27: Big tops and big major bottoms are when Mercury’s speed in Geocentric longitude is 59 minutes or 1 degree 58 minutes on 04 Oct so we should see change in trend. Bulls need to move above 17651 for a move towards 17718/17784. Bears will get active below 17491 for a move towards 17424/17359/17293. As discussed in video 17699 was important gann number and we closed below its yesterday and today we will open down around 150 points below Neural is supporting the analysis. Now 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.
Nifty Oct Future Open Interest Volume is at 1.21 Cores with addition of 1.14 Lakh with increase in cost of carry suggesting SHORT positions were added today.
There is total OI of 5.05 Cores on the Call side and 4.32 Cores on the Put side. More OI on CALL side suggesting Bearish sentiment in market players.
The Option Table data indicates decent support at 17400 and reasonable resistance at 17700. FII are buying more options than writing them,almost bought 6000 cores worth of options. Be prepared for a directional movement in the coming 2 days.
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. Bulls not able to close abov 17761 rollover price today 17604 NF should be watched closely after gap down.
Retailers have bought 98.8 K CE contracts and 175 K CE contracts were shorted by them on Put Side Retailers bought 383 K PE contracts and 354 K PE contracts were shorted by them suggesting having BEARISH outlook,On Flip Side FII bought 84 K CE contracts and 32.4 K CE were shorted by them, On Put side FII’s bought 30.6 K PE and 16 K PE were shorted by them suggesting they have a turned to BULLISH Bias.
FII bought 860 crore and DII bought 228.06 cores. USD Closed at 74.47
For Positional Traders Stay long till we are holding Trend Change Level 17617 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 17682 will act as a Intraday Trend Change Level.