FII bought 12.1 K contract of Index Future worth 1053 cores, Net OI has decreased by 8.7 K contract 1.7 K Long contract were added by FII and 10.4 K Shorts were covered by FII. Net FII Long Short ratio at 0.38 Lowerst for the year so FII used fall to enter long and exit short in Index Futures.
As Discussed in Last Analysis Tommorow again we will have high intensity 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. Nifty opened with gap up rallied broke 15 mins high whipsawed and broken low and gave a good fall price is near the gann angle support again. We will see another gap down open today as Uranus in Conjunction with Sun has created havoc in world markets.For Swing Traders Bulls need to move above 16496 for a move towards 16563/16627/16682. Bears will get active below 16433 for a move towards 16369/16304/16239
Intraday time for reversal can be at 9:39/10:04/12:30/1:46/2:58 How to Find and Trade Intraday Reversal Times
MAX Pain is at 16800 PCR at 0.72 , 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 1.03 Cores with liquidation of 3.9 Lakh with decrease in cost of carry suggesting SHORT positions were closed 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 2074 cores and DII’s bought 2229 cores in cash segment.INR closed at 76.51
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
Watch for 16499-16518 levels if we close below it fall can get extended towards 16250/16100. Closing above it rally towards 16898/16936.
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 17043 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 16829 will act as a Intraday Trend Change Level.