FII bought 7.8 K contract of Index Future worth 680 cores, Net OI has decreased by 8.2 K contract 8 K Long contract were added by FII and 202 Shorts were added by FII. Net FII Long Short ratio at 1.36 so FII used rise to enter long and enter short in Index Futures.
As Discussed in Last Analysis As shown below market is just trading in the range of 16998-17405. Breakout on close above 17506 ,Breakdown on close below 16862. For Swing traders Bears need to move below 17199 for a move towards 17134/17069/17003. Bulls will get active above 17329 for a move towards 17395/17460/17525. We will open gap up tommrow as Bayers Rules worked perfectly. Any close above 17507 can lead to rally towards 17576/17666. Bears will have chance below 17405 for a move towards 17323/17275.
Intraday time for reversal can be at 9:28/10:15/11:44/12:26/1:03/2:48 How to Find and Trade Intraday Reversal Times
MAX Pain is at 17200 PCR at 1.03, Rollover cost @16997 closed above it. PCR below 0.9 and above 1.3 lead to trending moves, and in between leads to range bound markets.
Nifty March Future Open Interest Volume is at 0.79 Cores with liquidation of 13.9 Lakh with increase in cost of carry suggesting LONG positions were closed today.
The option table data indicates decent support at 17300 and reasonable resistance at 17600.
Retailers have sold 9.8 K CE contracts and 50.4 K CE contracts were shorted by them on Put Side Retailers bought 237 K PE contracts and 226 K PE contracts were shorted by them suggesting having BEARISH outlook,On Flip Side FII bought 38.9 K CE contracts and 9.9 K CE were shorted by them, On Put side FII’s bought 24.2 K PE and 12.4 K PE were shorted by them suggesting they are still having BULLISH Bias
Bayer Rule 6: The price is in bottom when Mars was in 16 degrees 35 minutes of some sign and plus 30 degrees and Bayer Rule 27: Big tops and big major bottoms are when Mercury’s speed in Geocentric longitude is 59 minutes or 1 degree 58 minutes, Mercury moving in Aries and Mercury Conjunct Jupiter HELIO. These 4 Astro events are happening on 27 and 28 March suggesting it will be High Energy day and lead to big move in market. First 15 Mins High and Low on Monday will decide the trend for the whole week. — Worked Perfectly !!
FII’s bought 35.4 cores and DII’s bought 1713 cores in cash segment.INR closed at 75.98
A trader needs to create rules and follow them when the psychological crunch comes. Set out guidelines based on your risk-reward tolerance for when to enter a trade and when to exit it. Set a profit target and put a stop loss in place to take emotion out of the process.
For Positional Traders Stay long till we are holding Trend Change Level 17225 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 17326 will act as a Intraday Trend Change Level.