FII bought 14.4 K contract of Index Future worth 1158 cores, Net OI has increased by 19.7 K contract 17.1 K Long contract were added by FII and 2.6 K Shorts were added by FII. Net FII Long Short ratio at 0.72 so FII used fall to enter long and enter short in Index Futures.
As discussed in Last Analysis Nifty opened with gap up and did not sustain above our entry point. Now tommrow we will see impact of Jupiter and also we are having gann embelem from 19 Oct 2021 on Nifty so as both gann and astro dates are coming together we should see a good move in the market, Swing Traders Longs above 16094 for a move towards 16158/16222/16286. Bears will get active below 15966 for a move towards 15902/15841/15777. So Combo of Astro and Gann date created a lethal combo and led to move 150+ point in nifty and we were able to capture the bottom as discussed on twitter 30 May is another important astro date which will come on MOnday so aviod carrying overnight positions without Hedge. Swing Traders Longs above 16282 for a move towards 16345/16408. Bears will get active below 16155 for a move towards 16092/16029/15966
Intraday time for reversal can be at 10:09/11:12/12:03/2/2:33 How to Find and Trade Intraday Reversal Times
MAX Pain is at 16150 PCR at 0.88 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 0.47 Cores with liquidation of 14.5 Lakh with decrease in cost of carry suggesting LONG positions were closed today.
Maximum Call open interest of 25 lakh contracts was seen at 16400 strike, which will act as a crucial resistance level and Maximum PUT open interest of 20 lakh contracts was seen at 16100 strike, which will act as a crucial Support level
FII’s sold 1597 cores and DII’s bought 2906 cores in cash segment.INR closed at 77.52
Tommrow we have Jupiter and Moon Declination it leads to Major Tunring Point in Banks and Financials and Oil and Gas Stocks.
Nifty rollover cost @ 16139and Rollover @69.6 %.
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For Positional Traders Stay long till we are holding Trend Change Level 16193 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 16058 will act as a Intraday Trend Change Level.