FII sold 29.8 K contract of Index Future worth 2490 cores, Net OI has increased by 25.6 K contract 2.1 K Long contract were covered by FII and 27.7 K Shorts were added by FII. Net FII Long Short ratio at 0.28 Lowest for the year so FII used fall to exit long and enter short in Index Futures.
As Discussed in Last Analysis 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. Bears were able to do 1 target on downside. High made was 16484 so bulls were not able to to breach 16496. 09 May we have 4 Aspect of Marcury with Saturn and Neptune suggesting again High Intensity date. 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 9:19/9:56/10:57/12:39/1:43/2:42 How to Find and Trade Intraday Reversal Times
MAX Pain is at 16500 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 1.08 Cores with addition of 5 Lakh with increase in cost of carry suggesting LONG 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 5517 cores and DII’s bought 3014 cores in cash segment.INR closed at 77.04
Bayer Rule 6: The price is in bottom when Mars was in 16 degrees 35 minutes of some sign and plus 30 degrees can it give respite to Bulls Monday if we move above 17518 we could have short term bottom.
Watch for 16499-16518 levels if we close below it fall can get extended towards 16250/16100. Closing above it rally towards 16898/16936.
Retailers have bought 784 K CE contracts and 697 K CE contracts were shorted by them on Put Side Retailers bought 264 K PE contracts and 307 K PE shorted contracts were added by them suggesting having BULLISH outlook,On Flip Side FII bought 92.1 K CE contracts and 92.8 K CE were shorted by them, On Put side FII’s bought 122 K PE and 63 K PE were shorted by them suggesting they have a turned to Bearish Bias.
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 16938 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 16415 will act as a Intraday Trend Change Level.