FII sold 12.7 K contract of Index Future worth 1008 cores, Net OI has increased by 18.9 K contract 3.1 K Long contract were added by FII and 15.8 K Shorts were added by FII. Net FII Long Short ratio at 0.60 so FII used fall to enter long and enter short in Index Futures.
As Discussed in Last Analysis We have discussed the importance of Double Ingress in below video its very important for trend change or trend continuation with more Intensity. We have formed a perfect Doji now bulls need a close above 15950 for reversal confirmation. Bull need to move above 15900 for a move towards 15962/16024/16087. Bears need to move below 15774 for a move towards 15711/15628/15565. We got the big move as per expectation as both gann and astro date worked perfectly. Now we will have election results coming on thursday so tommrow can be another volatile session. Now Bulls need to move above16047 for a move back to 16172/16297. Bears below 15921 can see quick fall towards 15796/15671 Till we are above 16950 bulls can lead towards 200-300 points rally.
Intraday time for reversal can be at 9:44/11:10/12:44/2:12/2:57 How to Find and Trade Intraday Reversal Times
MAX Pain is at 16000 PCR at 0.73 , Rollover cost @16997 closed below it.
Nifty March Future Open Interest Volume is at 1.27 Cores with addition of 2.5 Lakh with increase in cost of carry suggesting LONG positions were added today.
Talking about supports and resistance based on OI at this stage is not quite relevant because, with the kind of Voaltality going on, no strike is safe as 1 day we are down 300 points and other day 300 point up.The option table is undergoing a real transformation – with each day one CE level is targeted with huge volumes of writing and the strike is giving way to much lower strikes.
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.
PCR below 0.9 and above 1.3 lead to trending moves, and in between leads to range bound markets. So, after all the mayhem, we are probably returning to sanity is what is indicated by the rising PCR. Got the short term bounce.
Nifty is extremely pessimistic -so be prepared for a short term bounce. 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. 🙂 Got the short term bounce.
Retailers have bought 88.9 K CE contracts and 168 K CE contracts were shorted by them on Put Side Retailers bought 394 K PE contracts and 405 K PE contracts were shorted by them suggesting having BULLISH outlook,On Flip Side FII bought 85.7 K CE contracts and 53 K CE were shorted by them, On Put side FII’s bought 70.9 K PE and 37 K PE were shorted by them suggesting they are having to BEARISH Bias
FII’s sold 8142 cores and DII’s bought 6489 cores in cash segment.INR closed at 77.17
For Positional Traders Stay long till we are holding Trend Change Level 15998 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 15849 will act as a Intraday Trend Change Level.