FII sold 37.8 K contract of Index Future worth 3233 cores, Net OI has increased by 7.6 K contract 1.4 K Long contract were covered by FII and 36.3 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.
As Discussed in Last Analysis 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. All Bearish target done and we have take support at the gann angle and we have seen impact of Mercury Declination. Tommorow again we will have high intenssity astro date so again first 15 mins high and low will decide the trend of the day. For Swing Traders Bulls need to move above 16732 for a move towards 16797/16862. Bears will get active below 16602 for a move towards 16537/16472/16407
The RBI has increased the repo rate upto 4.40 per cent from 4 per cent earlier while the cash reserve ratio (CRR) has been hiked by 50 basis points to 4.5 per cent.CRR hike to lead to withdrawl of Rs.87000 crs CRR hike effective from midnight of 21st May 2022.The EMIs for your home loans, auto loans and personal loans will increase. The commercial banks and NBFCs are going to increase the interest rates on new loans after the RBI’s announcement.
Intraday time for reversal can be at 9:14/9:56/11:04/12:34/1:47/2:43 How to Find and Trade Intraday Reversal Times
MAX Pain is at 16900 PCR at 0.82 , 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 1.07 Cores with addition of 15.1 Lakh with increase in cost of carry suggesting SHORT positions were added today.
The option table is undergoing a real transformation – with each day one CE level is targeted with huge volumes of writing and the strike is giving way to much lower strikes.
FII’s sold 3288 cores and DII’s bought 1338 cores in cash segment.INR closed at 76.62
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. — Worked Perfectly
Retailers have bought 131 K CE contracts and 101 K CE contracts were shorted by them on Put Side Retailers sold 53 K PE contracts and 21.6 K PE shorted contracts were added by them suggesting having Bullish outlook,On Flip Side FII bought 93.3 K CE contracts and 111K CE were shorted by them, On Put side FII’s bought 21.5 K PE and 9.8 K PE were shorted by them suggesting they have a turned to BEARISH Bias.
Watch for 16518 for some dead cat bounce
Trading is a very stressful endeavour and you can’t think straight when you see your life savings going up and down like a yo-yo unless you are prepared and have trained your subconscious mind to react to your commands and not the wiggles on the tape at the emotional extremes.
For Positional Traders Stay long till we are holding Trend Change Level 17096 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 16874 will act as a Intraday Trend Change Level.