Mercury Opposition North Node : Nifty Analysis

By | November 25, 2021 11:09 pm

  • FII bought 6.5 K  contract of Index Future worth 597 cores, Net OI has decreased by 41.1 K contract 4.8 K Long contract were added by FII and 45.9 K Shorts were covered by FII. Net FII Long Short ratio at 1.22 so FII used RISE to ENTER longs and EXIT shorts.
  • As Discussed in Last Analysis We have expiry tommrow and price has again got rejected from gann angles we can see an explosive expiry as Mercury is moving in Sagittarius. Bears will get active below 17347 for a move towards 17270/17204/17139. Bulls will get active above 17468 for a move towards 17534/17600.  Bears were unable to break 17347 as low made was 17351 and Bulls above 17468 and did 17534 and we have closed above  gann angle resistance . Tommorow Mercury Opposition North Node or Rahu. The planet Rahu is the significator of fast speculation and sudden change in the life path. Hence we should see big move in Nifty. Bulls need to move above 17576 for a move towards 17610/17666/17740. Bears will get active below 17478 for a move back to 17412/17347/17285/17216.

  • MAX Pain is at 17500 PCR at 0.95.Nifty Rollover cost @ 17538 and Rollover is at 81.8  % Highest in last 6 months.
  • Nifty Dec Future Open Interest Volume is at 1.04 Cores with addition of 29.6 Lakh with increase in cost of carry suggesting LONG positions were added today.
  • There is total OI of 4.5 Cores on the Call side and 5.3 Cores on the Put side, So, the activity is more on the PUT side, indicating option writers are  in BULLISH zone.
  • The Option Table data indicates decent support at 17300 and reasonable resistance at 17800.
  • There has been 29.6 L contract roll-over happened today. When you add 54.5 L contracts rolled over last 3 days, we have 84 L contracts have been rolled over between 17408-17526 price zone. Considering that we are having around 1.04 Lakh OI on an average for the series, this is approximately 80%. So, this price zone17408-17526 will have a crucial bearing in December Series. Till we are holding 17526 bulls can rally towards 17805.
  • FII’s sold 2300 cores and DII’s bought 1367 cores in cash segment.INR closed at 74.50
  • Bulls are bears have equally convincing arguments. The certainty of their conclusions is what causes the uncertainty perhaps. 🙂 From my end I can not offer any more conclusions based on today’s trading. Let us wait for the future action to unfold and guide us. “Remember the Bar-O-Meter” is the only piece of advice that I can give you at this moment. A scare to the 17700 CE writers looks a probable option.
  • FII have been relentlessly selling in equities. They have net sold approximately 25 K crore so far this month. From 16th November, till date, not even one day did they buy equities.
  • For Positional Traders Stay long till we are holding Trend Change Level 17533 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 17533 will act as a Intraday Trend Change Level.

Buy Above 17576 Tgt 17600, 17630 and 17666 (Nifty Spot Levels)

Sell Below  17510 Tgt 17484, 17458 and 17424 (Nifty Spot Levels)

As always I wish you maximum health and trading success

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