Mercury Retrograde: Nifty Ready for Trending Move

  • FII sold 6.8 K contract of Index Future worth 625 , Net OI has decreased by 6.1 K contract 6.5 K Long contract were covered by FII and 330 Shorts were added by FII. Net FII Long Short ratio at 1.95 so FII used RISE to EXIT Longs and ENTER Shorts.
  • As discussed in last analysisWe should see range expansion today due to Mercury Retrograde . Plan remains the same Bulls need to move above 18290 for rally to continue towards 18347/18414. Bears will get active below 18146 for a move towards 18079/18012. Mercury Retrograde impact explained in below video. We saw gap down and recovery as Mercury went retrograde but were unable to break 18290 on upside High made was 18287  Nifty should see trending move in next 2 trading session based on Mercury Retrograde. Bulls need to move above 18290 for rally to continue towards 18347/18414. Bears will get active below 18116 for a move towards 18053/17987.

  • MAX Pain is at 18200 PCR at 0.96 , Rollover cost @17280 closed above it. 
  • Nifty Jan  Future Open Interest Volume is at 1 Cores with liquidation of 1.9 Lakh with decrease in cost of carry suggesting LONG positions were covered today.
  • There is total OI of 5.06 Cores on the Call side and 4.82 Cores on the Put side, So, the activity is more on the CALL side, indicating option writers are  in BEARISH zone.
  • We have Mercury Retrograde today and it has big impact on Financial Market as Mercury is fast moving plannet so lead to big rise or fall in Market. Please read the following Post  to understand previous Impact of Mercury Retrograde on Nifty. Moon Opposition Mars aspect of Moon with Mars will also volatality in the Market.  Perfect Outside Bar Formed on Friday Bufty ready for trending move of 175-225 points break of 18290 on uspide and 18119 on downside.
  • The Option Table data indicates decent support at 18000 and reasonable resistance at 18400.
  • FII’s sold 1598 cores and DII’s bought 371  cores in cash segment.INR closed at 74.21
  • Retailers have bought 523 K CE contracts and 529 K CE contracts were shorted by them on Put Side Retailers bought 433 K PE contracts and 490 K PE contracts were shorted by them suggesting having BULLISH outlook,On Flip Side FII bought 126 K CE contracts and 98 K CE were shorted by them, On Put side FII’s bought 76.4 K PE and 47.5 K PE were shorted by them suggesting they have a turned to BEARISH Bias.
  • For Positional Traders Stay long till we are holding Trend Change Level 17866 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 18321 will act as a Intraday Trend Change Level.

Buy Above 18290 Tgt 18321, 18356 and 18388 (Nifty Spot Levels)

Sell Below 18220 Tgt 18190, 18155 and 18121  (Nifty Spot Levels)

As always I wish you maximum health and trading success

Bramesh Bhandari has been actively trading the Indian Stock Markets since over 15+ Years. His primary strategies are his interpretations and applications of Gann And Astro Methodologies developed over the past decade.

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