Mercury Ingress Leads to Big Rally in Nifty

  • FII bought 4858 contract of Index Future worth 425 cores, Net OI has decreased by 6.7 K contract 815 Long contract were covered by FII and 5.9 K Shorts were covered by FII. Net FII Long Short ratio at 1.94 so FII used RISE to EXIT longs and EXIT Shorts.
  • Now Set up is ready for a big move in nifty in next 2 trading session. Bulls need to move above 17287 for a move back to 17352/17400. Bears will get active below 17150 for a move back to17092/17027.   Mercury Ingress and  Mercury Trine North Node aspect  happened on 02 Jan, Mercury  is ruling plannet of Nifty and North Node generally creates havoc in market and same we saw today with a big rally in Nifty. Bulls need to move above 17650 for a move towards 17712/17777/17844. Bears below 17581 for a move towards 17515/17449/17383.

  • MAX Pain is at 17500 PCR at 0.91, Rollover cost @1728 closed above it. 
  • Nifty Jan  Future Open Interest Volume is at 1.06 Cores with addition of 3.5 Lakh with increase in cost of carry suggesting LONG positions were added  today.
  • There is total OI of 4.1 Cores on the Call side and 6.2 Cores on the Put side, So, the activity is more on the PUT side, indicating option writers are  in BULLISH zone.
  • Its been a Choppy trade in past few trading sessions with volatile move coming both sides, and seeing swing in MTM can drain a trader emotionally. But thats the Job of trader to pass tough times with less loss and sit tight when trending move is coming. — Finally Rewarded Handomsely with trending move. 
  • The Option Table data indicates decent support at 17300 and reasonable resistance at 17800.
  • FII’s bought 902 cores and DII’s bought 803 cores in cash segment.INR closed at 74.53
  • December series had a maximum roll-overs of around 242 Lakh contracts in last 4 days of trading . The NF was trading in the range between 17332-16984. Whenever, the price band is approached, expect some violent reactions. Closed at 17409 and today gave bumper rally. 
  • We will have Weekly,Monthly,Quaterly,Yearly closing tommrow its a rare event , Nifty is  up by just 23 % for the whole year. Bulls would like to close in range of 17325-17343  for a good begining in New Year 2022. Closed at 17354 and today gave bumper rally. 
  • For Positional Traders Stay long till we are holding Trend Change Level 17422 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 17591 will act as a Intraday Trend Change Level.

Buy Above 17650 Tgt 17676, 17712 and 17750 (Nifty Spot Levels)

Sell Below 17588 Tgt 17551, 17515 and 17485 (Nifty Spot Levels)

As always I wish you maximum health and trading success

Leave a Reply