FII bought 23.5 K contract of Index Future worth 2103 cores, Net OI has increased by 5.2 K contract 14.3 K Long contract were added by FII and 9 K Shorts were covered by FII. Net FII Long Short ratio at 1.33 so FII used RISE to ENTER longs and EXIT shorts.
NIfty has again bounced from gann angle as shown in below chart , On 15 we have 2 Important astro event 1. Mercury Square Pluto HELIO and Bayer Rule 5:Mercury Retrograde Zodical Position of One Year suggesting first 15 mins of the day will decide the trend of market till 17 Nov. Any Astro Event with Mercury has a good effect on Nifty. Bulls need to move above 18133 for a move towards 18200/18268/18335. Bears will get active below 18070 for a move towards 18014/17965/17900.
MAX Pain is at 17900 PCR at 0.93 . Rollover @ 18190 and Rollover is at 77%
Nifty Dec Future Open Interest Volume is at 1 Cores with liquidation of 6.8 Lakh with decrease in cost of carry suggesting SHORT positions were closed today.
There is total OI of 6.5 Cores on the Call side and 7.6 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 18000 and reasonable resistance at 18300.
The option table paints a bullish picture. Lot of call covering at different strikes, and mammoth put writing.
FII’s bought 511 cores and DII’s bought 851 cores in cash segment.INR closed at 74.52
Retailers have bought 274 K CE contracts and 402 K CE contracts were shorted by them on Put Side Retailers bought 565 K PE contracts and 532 K PE contracts were shorted by them suggesting having BEARISH outlook,On Flip Side FII bought 124 K CE contracts and 72 K CE were shorted by them, On Put side FII’s bought 50 K PE and 69 K PE were shorted by them suggesting they have a turned to BULLISH Bias.
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. Fridays Rally was one of the live expmple.
For Positional Traders Stay long till we are holding Trend Change Level 17953 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 18043 will act as a Intraday Trend Change Level.