FII bought 49.7 K contract of Index Future worth 4303 cores, Net OI has increased by 65.9 K contract 38 K Long contract were added by FII and 11.6 K Shorts were covered by FII. Net FII Long Short ratio at 1.33 so FII used rise to enter long and exit short in Index Futures.
As Discussed in Last Analysis Again a gap up open and we will se impact of astro date for swing traders Bulls need a move above 17097 for a move towards 36217162/17227. Bears will have chance below 16967 for a move towards 16902/16837. Again another gap up open Market is just trading in gaps and on Monday again we will open gap up Nifty chart look like a Small Cap stock chart. Now Bulls need to move above 17503 for a move back to 17568/17634/17700, Bears below 17437 for a move towards 17372/17306/17241.
Intraday time for reversal can be at 9:37/10:17/12:01/2:50 How to Find and Trade Intraday Reversal Times
MAX Pain is at 17250 PCR at 1.04 , Rollover cost @16997 closed below it.
Nifty March Future Open Interest Volume is at 1.09 Cores with liquidation of 3.5 Lakh with increase in cost of carry suggesting LONG positions were closed today.
The option table data indicates decent support at 17200 and reasonable resistance at 17500.
The option table is undergoing a real transformation – with each day one PE level is targeted with huge volumes of writing and the strike is giving way to much lower strikes.
We are into relent less buying and 1600 points up on NF In the last 8 trading days, FII have net bought NF worth 5K crore approximately. We have to add 3000 crore worth of equity selling to that – it shows that FII are adding money big time in the Indian Markets.
Another Imp WD GAnn Rule A market that has been strong during the week or especially during the latter part of the week and closes strong on Friday,is likely to open strong Monday and finish the advance in the first hour on Monday.Therefore, be very careful about buying stocks on Monday moming’s strong opening. Public buying orders which accumulate over Sunday are all executed Monday moming and as soon as this demand is supplied professionals start selling and the market has a reaction in proportion to its condition and position at the time. So Monday 9:15-10:15 AM will decide the trend for the week,
W.D. Gann: “March 21st is 90 days from December 22nd. This is the date when the Sun crosses the equator and Spring begins. The Spring rally in the stock market often starts around this date or culminates if stocks have been advancing previous to this date.” — On 20 Dec we made bottom lets see what happens on 21 March.
FII’s bought 2800 cores and DII’s sold 678 cores in cash segment.INR closed at 75.80.
For Positional Traders Stay long till we are holding Trend Change Level 17118 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 17398 will act as a Intraday Trend Change Level.