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 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. It was a day of whipsaw still Bears were able to do 1 target on downside.Tommrow we have Jupiter Declination and we will see good trending move in nifty in coming 2 trading sessions. Now for Swing Traders Longs above 16158 for a move towards 16222/16286/16350. Bears will get active below 16094 for a move towards 16030/15966/15902.
Intraday time for reversal can be at 10:03/11:20/12:35/2:12/2:53 How to Find and Trade Intraday Reversal Times
MAX Pain is at 16200 PCR at 0.8 , 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 0.61 Cores with liquidation of 7.3 Lakh with decrease in cost of carry suggesting LONG positions were closed today.
Maximum Call open interest of 59 lakh contracts was seen at 16300 strike, which will act as a crucial resistance level and Maximum PUT open interest of 88 lakh contracts was seen at 16000 strike, which will act as a crucial Support level
FII’s sold 2393 cores and DII’s bought 1948 cores in cash segment.INR closed at 77.60
Tommrow we have Jupiter and Moon Declination it leads to Major Tunring Point in Banks and Financials and Oil and Gas Stocks.
Retailers have bought 380 K CE contracts and 408 K CE contracts were shorted by them on Put Side Retailers bought 166 K PE contracts and 165 K PE shorted contracts were added by them suggesting having BULLISH outlook,On Flip Side FII bought 28.8 K CE contracts and 58.7 K CE were shorted by them, On Put side FII’s bought 28.8 K PE and 58.7 K PE were shorted by them suggesting they have a turned to neutral Bias.
Trade price action not opinions. Be quick to cut losses and patient to ride winners. Getting stuck on what you think should happen could be fatal when the market disagrees with you.
For Positional Traders Stay long till we are holding Trend Change Level 16383 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 16137 will act as a Intraday Trend Change Level.