- FII bought 16.1 K contract of Index Future worth 1472 , Net OI has increased by 19.2 K contract 3.9 K Long contract were added by FII and 5.3 K Shorts were added by FII. Net FII Long Short ratio at 1.81 so FII used RISE to ENTER Longs and ENTER Shorts.
- As discussed in last analysisNow Bulls need to move above 18290 for rally to continue towards18347/18414. Bears will get active below 18146 for a move towards 18079/18012. Range bound day Bulls were not able to break 18290 and Bears unable to break 18146, We 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.
- MAX Pain is at 18200 PCR at 0.97 , Rollover cost @17280 closed above it.
- Nifty Jan Future Open Interest Volume is at 1.02 Cores with addition of 2.54 Lakh with increase in cost of carry suggesting LONG positions were covered today.
- There is total OI of 2.64 Cores on the Call side and 2.84 Cores on the Put side, So, the activity is more on the PUT side, indicating option writers are in BULLISH 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.
- The Option Table data indicates decent support at 17900 and reasonable resistance at 18300.
- FII’s sold 1390 cores and DII’s bought 1065 cores in cash segment.INR closed at 74.04
- We are having a blow off rally in Index and with today’s gap up open we are just less than 2% from all time high tommrow mercury is going Retrograde which leads to change in direction to time to be cautious on all long trades and keep strict trailing stop loss.
- For Positional Traders Stay long till we are holding Trend Change Level 17824 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 18259 will act as a Intraday Trend Change Level.
Buy Above 18275 Tgt 18298, 18323 and 18350 (Nifty Spot Levels)
Sell Below 18218 Tgt 18190, 18160 and 18122 (Nifty Spot Levels)
As always I wish you maximum health and trading success