FII sold 9.3 K contract of Index Future worth 790 cores, Net OI has increased by 7.6 K contract 846 Long contract were covered by FII and 8.5 K Shorts were added by FII. Net FII Long Short ratio at 0.51 so FII used fall to exit long and enter short in Index Futures.
05 May is high intensity day so try to do intraday trade tommrow and do not carry unhedged position for Thursday. For Swing Traders Bulls need to move above 17100 for a move towards 17149/17213/17278/17343. Bears will get active below 16954 for a move towards 16889/16824.
Intraday time for reversal can be at 9:31/10:12/12:38/1:49/2:44 How to Find and Trade Intraday Reversal Times
MAX Pain is at 17050 PCR at 0.76 , Rollover cost @17121 closed below it and rollover @65.6 lowest in 3 months. 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 0.92 Cores with addition of 4.2 Lakh with increase in cost of carry suggesting LONG positions were added today.
The Option Table data indicates decent support at 16900 and reasonable resistance at 17200 . There is total OI of 3.2 Cores on the Call side and 4.8 Cores on the Put side, So, the activity is more on the PUT side, indicating option writers are in BULLISH zone.
FII’s sold 1853 cores and DII’s bought 1951 cores in cash segment.INR closed at 76.50
We may be in for some trending environment, as opposed to the recent trading the ranges. Do not be in a hurry to enter trade.
Retailers have bought 365 K CE contracts and 309 K CE contracts were shorted by them on Put Side Retailers bought 415 K PE contracts and 360 K PE shorted contracts were added by them suggesting having BEARISH outlook,On Flip Side FII sold 97.7 K CE contracts and 39.2 K CE were shorted by them, On Put side FII’s bought 7.7 K PE and 27.5 K PE were shorted by them suggesting they have a turned to neutral Bias.
Watch for 17261 for a move towards 17469.
Athletes Commonly Review Tapes Of Their Performances; Chess Players Review Their Games; Professional Models Watch Themselves On Screen To Refine Their Presentation; Military Commanders Lead After-action Reviews Following Missions. Everywhere We See Elite Performance, We See Performers Reviewing Their Work As Part Of Ongoing Learning. The Collection Of Metrics Can Serve A Similar Function For Traders.
For Positional Traders Stay long till we are holding Trend Change Level 17170 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 17015 will act as a Intraday Trend Change Level.
Is Nifty will cross 17100 mark today???