FII sold 727 contract of Index Future worth 42 cores, Net OI has decreased by 6.9 K contract 3.4 K Long contract were covered by FII and 3.1 K Shorts were covered by FII. Net FII Long Short ratio at 0.63 so FII used fall to exit long and exit short in Index Futures.
As discussed in Last Analysis We have seen the impact of astro date and gann date combined with Nifty again rallying almost 400+ points as discussed in below video. Now for Swing Traders Longs above 16193 for a move towards 16256/16320/16383/16446. Bears will get active below 16130 for a move towards 16067/16003/15945. 3 Bullish target done on Nifty above 16193 and we saw trend change also. Today we have Mars Ingress and Yesteday we have Mercury Ingress so we had double ingress as Gann used to say Double ingresses (when two or more planets, not counting the Moon, enter a new sign within two consecutive days), So we can see Major trend change after today. For today watch out for 15 mins High and low for trade. Now for Swing Traders Longs above 16222 for a move towards 16286/16350/16414. Bears will get active below 16158 for a move towards 16094/16030/15966.
Intraday time for reversal can be at 10:03/11:23/12:39/2/2:38 How to Find and Trade Intraday Reversal Times
MAX Pain is at 16300 PCR at 0.88 , 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 0.69 Cores with liquidation of 6.4 Lakh with decrease in cost of carry suggesting LONG positions were closed today.
Maximum Call open interest of 44 lakh contracts was seen at 16400 strike, which will act as a crucial resistance level and Maximum PUT open interest of 40 lakh contracts was seen at 16000 strike, which will act as a crucial Support level
FII’s sold 1951 cores and DII’s bought 1445 cores in cash segment.INR closed at 77.80
Bayer Rule 22: The trend changes if retrograde Mercury passes over the Sun. Sun Conjuct Rx Mer will come in effect on 21 May and Uranus 15° HELIO very important Astro event as Uranus is Financial Plannet.– We saw a good trend change bank nifty going from green to red.
Retailers have bought 557 K CE contracts and 381 K CE contracts were shorted by them on Put Side Retailers bought 131 K PE contracts and 172 K PE shorted contracts were added by them suggesting having BULLISH outlook,On Flip Side FII bought 2.6 K CE contracts and 5.6 K CE were shorted by them, On Put side FII’s bought 19.4 K PE and 2K PE were shorted by them suggesting they have a turned to neutral Bias.
Good risk management decreases the amount of your draw downs which makes trading a much easier proposition. Consistently growing capital is a much more pleasant process when you are not trying to come back from 25%-50% draw downs, trust me on this, been there done that.
For Positional Traders Stay long till we are holding Trend Change Level 16398 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 16278 will act as a Intraday Trend Change Level.