FII sold 15.8 K contract of Index Future worth 1276 cores, Net OI has increased by 889 contract 7.5 K Long contract were covered by FII and 8.4 K Shorts were added by FII. Net FII Long Short ratio at 0.84 so FII used rise to exit long and enter short in Index Futures.
As discussed in Last Analysis Tommorow we have 2 Lunar Cycle coming together Moon at Apogee and Moon at Extreme Declination suggesting it will again be a Volatile move. Swing Traders Longs above 16626 for a move towards 16690/16743/16816. Bears will get active below 16497 for a move towards 16432/16367/16303. It was day of whipsaw both bulls and bears got sl triggred, its part of the game and we need to accept it. Swing Traders Longs above 16567 for a move towards 16631/16695/16759. Bears will get active below 16437 for a move towards 16372/16307/16243. Today we did not got the big move so tommrow we should see explosive expiry.
Intraday time for reversal can be at 9:48/11:33/12:04/2:14/2:54 How to Find and Trade Intraday Reversal Times
MAX Pain is at 16500 PCR at 0.91 PCR below 0.89 and above 1.3 lead to trending moves, and in between leads to range bound markets.Nifty rollover cost @ 16139and Rollover @69.6 %.
Nifty May Future Open Interest Volume is at 1.03 Cores with liquidation of 0.21 Lakh with decrease in cost of carry suggesting LONG positions were closed today.
Maximum Call open interest of 72 lakh contracts was seen at 16600 strike, which will act as a crucial resistance level and Maximum PUT open interest of 51 lakh contracts was seen at 16500 strike, which will act as a crucial Support level
FII’s sold 1930 cores and DII’s bought 984 cores in cash segment.INR closed at 77.52
Retailers have bought 463 K CE contracts and 391 K CE contracts were shorted by them on Put Side Retailers bought 217 K PE contracts and 190 K PE shorted contracts were added by them suggesting having BULLISH outlook,On Flip Side FII bought 35.6 K CE contracts and 60.9 K CE were shorted by them, On Put side FII’s bought 37 K PE and 18.6 K PE were shorted by them suggesting they have a turned to Bearish Bias.
To be a superior trader is to be a warrior. A warrior never lets up on his discipline. He is prepared for the next encounter. A famous Samurai battle cry was ìKatte, kabuto no o o shime yo.î Translated it means, ìAfter victory, tighten your helmet cords.î It is very appropriate for anyone involved in the markets. You may have won this battle. Be prepared for the next and the next and the next. The battle with your ego is never ending. Never forget that.
For Positional Traders Stay long till we are holding Trend Change Level 16420 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 16533 will act as a Intraday Trend Change Level.