FII bought 11.7 K contract of Index Future worth 980 cores, Net OI has increased by 9.2 K contract 10.5 K Long contract were added by FII and 1.2 K Shorts were covered by FII. Net FII Long Short ratio at 0.39 so FII used fall to enter long and exit short in Index Futures.
Nifty is holding near the gann angle, Break of 15729 can lead to fast move towards 15500/15225.Price has formed a tripple bottom but need to close above 16000 for short term bottom to be in place.For Swing trades BUlls need to move above 15861 for a move towarsd 15923/15986/16049, Bears will get active below 15798 for a move towards 15735/15666/15610.
Intraday time for reversal can be at 9:15/10/11:49/12:31/1:09/2:41 How to Find and Trade Intraday Reversal Times
MAX Pain is at 15900 PCR at 0.75 , 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 0.91 Cores with liquidation of 0.02Lakh with increase in cost of carry suggesting SHORT positions were closed today.
Maximum Call open interest of 60 lakh contracts was seen at 16000 strike, which will act as a crucial resistance level and Maximum PUT open interest of 53 lakh contracts was seen at 15700 strike, which will act as a crucial Support level
FII’s sold 1788 cores and DII’s bought 1428 cores in cash segment.INR closed at 77.55
WIll LIC IPO Listing will have negative impact on Bank NIfty as if its list below Issue Price and can spoil sentiment and LIC will also deploying funds in buying equity from today so be extremly cautious today.
Sell in May and go away look at 2006 charts we might be not out of woods and heading much lower if unable to close above 16000 on weekly close basis
Retailers have bought 207 K CE contracts and 225K CE contracts were shorted by them on Put Side Retailers bought 400 K PE contracts and 336K PE shorted contracts were added by them suggesting having Bearish outlook,On Flip Side FII sold 14.4 K CE contracts and 6.8 K CE were shorted by them, On Put side FII’s sold 15.1 K PE and 4.9 K PE were shorted by them suggesting they have a turned to neutral Bias.
Trade less make more – Be picky about your trade setups and only take the best ones. The goal is to take the least amount of trades needed as over time even the best traders will lose on more trades than they win on.
For Positional Traders Stay long till we are holding Trend Change Level 16033 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 15873will act as a Intraday Trend Change Level.