FII bought 18.6 K contract of Index Future worth 1589 cores, Net OI has increased by 8.9 K contract 11.4 K Long contract were covered by FII and 7.1 K Shorts were added by FII. Net FII Long Short ratio at 2.3 so FII used FALL to ENTER longs and EXIT shorts.
As Discussed in Last Analysis Have we made bottom as discussed in below video its will be confirmed when we have a close above 17171 in next 2 trading session as we have formed doji at gann angle. Bulls need to move above 17173 for a move towards 17238/17304/17370. Bears need a close below 16977 for a move back to 16912/16847/16782. 2 Bullish target done above 17171, As Mentioned in Video Mars creates the voaltality and we saw today price correcting from the top and closing below 100 DMA. Gann Angle again acted as resistance. Now Bulls need to move above 17041 can see quick move towards17106/17171/17235. Bears will get active below 16911 for a move towards 16847/16782
MAX Pain is at 17150 PCR at 0.98.Nifty Rollover cost @ 17538 and Rollover is at 81.8 % Highest in last 6 months.
Nifty Dec Future Open Interest Volume is at 1.13 Cores with addition of 4 Lakh with decrease in cost of carry suggesting SHORT positions were added today.
There is total OI of 6.8 Cores on the Call side and 4.4 Cores on the Put side, So, the activity is more on the CALL side, indicating option writers are in BEARISH zone.
The critical quality needed to make money in this kind of market, where trends will flip on no notice is: Extreme flexibility Be prepared to flip your positions and trades with market flavour. Risk on and risk off and Fed hawks or fed doves during the day.
The huge volatility and wild moves on the FnO front are indicating that the game is being played between the big players small players are getting screwed. Reduce your trading size to half till VIX comes below 16.
FII’s sold 5445 cores and DII’s bought 5350 cores in cash segment.INR closed at 75.38
Retailers have bought 217 K CE contracts and 193 K CE contracts were shorted by them on Put Side Retailers bought 96 K PE contracts and 119 K PE contracts were shorted by them suggesting having BULLISH outlook,On Flip Side FII bought 42.8 K CE contracts and 36.3 K CE were shorted by them, On Put side FII’s bought 32.6 K PE and 43.2 K PE were shorted by them suggesting they have a turned to BULLISH Bias.
Always remember Bottom are made only on bad news and Top on Good news. GDP coming positive should have negative impact and also India Stocks Weightage has increased maximum in MSCI index. When everything looks safe and bullish to you, it is selling time. When there are media stories that world is going to collapse, time to buy. Is trend really the friend? 🙂
For Positional Traders Stay long till we are holding Trend Change Level 17239 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 17144 will act as a Intraday Trend Change Level.