Nifty 50 Technical Analysis and Insights — 27 April

By | April 26, 2022 8:30 pm

FII bought 3.1 K contract of Index Future worth 231 cores, Net OI has increased by 5.8 K contract 4.4 K Long contract were added by FII and 1.3 K Shorts were added by FII. Net FII Long Short ratio at 0.78 so FII used rise to enter long and  enter short in Index Futures.

As Discussed in Last Analysis Today also we will open with gap up For Swing traders Bulls need to move above 17083 for a move towards 17148/17213/17278. Bears will get active below 17018 for a move towards 16953/16888. Low made was 17064 so bulls got entry at 17083 and did 2 target on upside. Now we might open gap down tommrow any break of 17084 can lead to big fall towards 17018/16952/16886. Bulls need to move above 17216 for a move towards 17282/17348/17414. 

 

Intraday time for reversal can be at 9:15/10/1:50/2:21 How to Find and Trade Intraday Reversal Times

MAX Pain is at 17100 PCR at 0.85 , Rollover cost @17418 closed below it. PCR below 0.9 and above 1.3 lead to trending moves, and in between leads to range bound markets.

Nifty May Future Open Interest Volume is at 0.48 Cores with addition of 11.5 Lakh with dincrease in cost of carry suggesting LONG positions were added today.

The Option Table data indicates decent support at 17000 and reasonable resistance at 17200 . There is total OI of 8906 Cores on the Call side and 8.77 Cores on the Put side, So, the activity is more on the CALL side, indicating option writers are  in BEARISH zone.

FII’s sold 1174 cores and DII’s bought 1643 cores in cash segment.INR closed at 76.57

25 April was Moon and Saturn Aspect ,High of 17054 and 16888 is valid for whole weeek Mark in on your charts and take trade on break of High and Low. 

17261 is next important level to watch out for 200-300 points move. — High made today was 17223

Retailers have bought 40.2 K CE contracts and 48.6 K CE contracts were shorted by them on Put Side Retailers bought 293 K PE contracts and 308 K PE shorted contracts were added by them suggesting having BULLISH outlook,On Flip Side FII bought 75.3K CE contracts and 32.1 K CE were shorted by them, On Put side FII’s bought 51.5 K PE and 9.7 K Shorted  PE were covered by them suggesting they have a turned to Bearish Bias.

As a Trader , I must decide when to enter and exit the Markets . This is what trading is all about. I then ask myself two questions: 1) Is the time cycle present? 2) Can I afford to take the risk? If the answer to both of these questions is “yes,” then I must take the trade

For Positional Traders Stay long till we are holding Trend Change Level 17116  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 17154 will act as a Intraday Trend Change Level.

Buy Above 17144 Tgt 17180, 17208 and 17245 (Nifty Spot Levels)

Sell Below 17100 Tgt 17071, 17040 and 17008 (Nifty Spot Levels)

As always I wish you maximum health and trading success

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