FII bought 4.3 K contract of Index Future worth 415 cores, Net OI has decreased by 2.7 K contract 844 Long contract were added by FII and 3.5 K Shorts were covered by FII. Net FII Long Short ratio at 1.38 so FII used fall to enter longs and exit shorts.
As discussed in Last Analysis 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. High made was 17557 after gap down so no trade got triggred as 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.
Nifty Oct Future Open Interest Volume is at 1.20 Cores with addition of 3.6 Lakh with decrease in cost of carry suggesting SHORT positions were closed today.
There is total OI of 4.6 Cores on the Call side and 3.2 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.
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.
Retailers have bought 437 K CE contracts and 411 K CE contracts were shorted by them on Put Side Retailers sold 334 K PE contracts and 341 K PE contracts were shorted by them suggesting having BEARISH outlook,On Flip Side FII bought 52 K CE contracts and 47 K CE were shorted by them, On Put side FII’s bought 55.4 K PE and 42.1 K PE were shorted by them suggesting they have a turned to BYLLISH Bias.
FII bought 131 crore and DII sold 613 cores. USD Closed at 74.29
For Positional Traders Stay long till we are holding Trend Change Level 17584 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 17492 will act as a Intraday Trend Change Level.