FII bought 3.2 K contract of Index Future worth 297 cores, Net OI has increased by 7.8 K contract 5.5 K Long contract were added by FII and 2.2 K Shorts were added by FII. Net FII Long Short ratio at 1.21 so FII used RISE to ENTER longs and ENTER shorts.
As Discussed in Last AnalysisAll Bearish target done as Astro showed its effect as discussed in below video and now today we have touched quaterly pivot of 17322, ANy close below it will lead to a fall towards 17035 by expiry. Also as we have 3 aspect today todays low will be very significant. Bulls need to move above 17460 for a move towards 17540/17610/17666. Bears will get active below 17322 for a move towards 17280/17225/17161. We were able to capture exact bottom of the day as shared on twitter and we saw a very good pulls back in nifty. . Today Important bayers rule got activated which is Bayer Rule 6: The price is in bottom when Mars was in 16 degrees 35 minutes of some sign and plus 30 degrees. So once we move above todays high 17576 rally can contiue till 17632/17700/17762 Bears will get active below 17424 for a move towards 17385/17296/17220.
Nifty Dec Future Open Interest Volume is at 0.49 Cores with addition of 18.9 Lakh with decrease in cost of carry suggesting SHORT positions were closed today.
There is total OI of 7.5 Cores on the Call side and 5.3 Cores on the Put side, So, the activity is more on the CALL side, indicating option writers are in BEARISH zone.
The Option Table data indicates decent support at 17300 and reasonable resistance at 17600.
Retailers have sold 145 K CE contracts and 49 K shorted CE contracts were covered by them on Put Side Retailers bought 405 K PE contracts and 353 K PE contracts were shorted by them suggesting having BEARISH outlook,On Flip Side FII bought 6 K CE contracts and 21.5 K shorted CE were covered by them, On Put side FII’s bought 43.4 K PE and 61.8 K PE was bought by them suggesting they have a turned to BULLSIH Bias.
FII’s sold 4477 cores and DII’s bought 1412 cores in cash segment.INR closed at 74.48
NIFTY is extremely pessimistic -so be prepared for a short term bounce above todays high I do not recommend buying of options at this moment, because the volatality and hence the premium of options is very high. So, it is difficult to make money even if the market moves in our expected direction. Deal with futures or option writing for some days. If it is a must that you have to only deal with buying of options then resort to day trading. 🙂
FII’s have sold -25,572.19 cr in Oct Month and -17,915.33 cr till date in November month that’s 43487 cr in 2 month in Equity selling and Market is down less than 10% shows Indian Market are not having much dependence on FII’s !!
For Positional Traders Stay long till we are holding Trend Change Level 17583 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 17495 will act as a Intraday Trend Change Level.