Foreign Institutional Investors (FIIs) displayed a Neutral approach in the Index Futures market by Buying 434 contracts worth 71 crores, resulting in a increase of 222 contracts in the Net Open Interest. FIIs bought 328 long contracts and Sold 106 short contracts, indicating a preference for initiating new Long positions. With a Net FII Long Short ratio of 0.58 , FIIs utilized the market fall to enter long positions and exit short positions in Index Futures.
As Discussed in Last Analysis As per Gann Price continues to move higher and today will be 9 days of rise. As per Gann Rules If a price is rising for 9 consecutive day’s at a stretch, then there is a high probability of a correction for 5 consecutive days. (Ratio is 9:5)
Today we saw a decent pullback,Today we have seen Open = High on Daily Time Frame. The Open High strategy is straightforward and easy to understand, making it suitable for both novice and experienced traders. It does not require complex technical indicators or extensive analysis, making it a convenient option for those who prefer a simple approach to trading.
If We see Open = High on Higher time frame its more powerful, Like Nifty Made Open = High on Dec Month and we saw a decent fall. Bank Nifty has almost rallied 1035 points from 20 March Low and we are approaching the 50% point at 17817 and Musical Octave point of 17826 from which Nifty has corrected last time also. With Multiple Astro Date involving Venus today as discussed in below video today High and Low are very crucial for the whole week. With Solar Eclipse approaching its time to be extra cautious as it generally have negative implication.
“Sun ingress” is a term used in astrology to refer to the movement of the Sun into a new zodiac sign. This is believed to have an impact on financial markets and can cause market volatility. Nifty has formed another O=H and price is taking multiple support at 1×2 gann angle any break of 17576 can lead to big fall. Today Mercury Declination is at its Extreme and Sun moving in Tarus and tommrow we will have Solar Eclipse so time to be extremly cautious. First 15 Mins High and Low can be used by Traders to trade for the day.
An inside bar is a price pattern that occurs when the price of an asset is confined within the high and low range of the previous candlestick. In other words, the inside bar has a smaller trading range than the previous bar. This pattern shows that the market is consolidating, and there is indecision among buyers and sellers. When an inside bar pattern is formed, it can signal that a potential breakout is imminent.By using this strategy, traders can enter the market at a low-risk point and maximize their profits. The entry signal occurs when the price of the asset breaks out of the high or low range of the inside bar. Traders should enter a long position if the price breaks out above the high of the inside bar, and enter a short position if the price breaks out below the low of the inside bar. This entry signal provides a low-risk entry point, as traders can place their stop-loss orders just below the low of the inside bar for a long position or just above the high of the inside bar for a short position.
For Swing Traders Break of 17600 can see a fall towards 17532/17453/17375/17297. Bulls will get active above 17777 for a move towards 17844/17923/18001.
Traders may watch out for potential intraday reversals at 9:52,11:02,12:17,1:36 How to Find and Trade Intraday Reversal Times
17817 is the 50% point, and 17826 is the musical octave point. It may be a good time to book profits in long positions and set a trailing stop loss at 17729. A fresh entry can be considered on a 15-minute close above 17850. For aggressive shorts, a stop loss can be placed at 17848 — Very Nice Pullback from 17817 towards 62.5 % point.
Nifty April Futures Open Interest Volume stood at 0.91 lakh, witnessing a liquidation of 2 lakh contracts. Additionally, the decrease in Cost of Carry implies that there was a closure of longs positions today.
Nifty options chain shows that the maximum pain point is at 17700 and the put-call ratio (PCR) is at 0.98. Typically, when the PCR open interest ranges between 0.90 and 1.05, the market tends to remain range-bound. This suggests that Nifty may trade within a range of 17600-17800 levels in the near term.
According To Recent Data, Retailers Have bought 182677 Call Option Contracts and Shorted 155746 CALL Option Contracts. Additionally, They Sold 437531 Put Option Contracts And covered 334488 Shorted Put Option Contracts, Indicating A Bullish Outlook.
In Contrast, Foreign Institutional Investors (FIIs) sold 63599 Call Option Contracts And Shorted 24118 Call Option Contracts. On The Put Side, FIIs sold 29223 Put Option Contracts And Shorted 26642 Put Option Contracts, Suggesting They Have Turned To A Bearish Bias. FII’s have bought 7226 Cr worth of Options in last 2 days be prepared for big move.
Nifty 50 Options Chain Analysis
The Nifty 50 options chain indicates that the highest open interest (OI) on the call side is at the 17,700 strike, followed by 17,800 strikes. On the put side, the highest OI is at the 17600 strike, followed by 17500 strikes. This suggests that the market participants are expecting Nifty 50 to remain range between 17500-17700 levels.
In the cash segment, Foreign Institutional Investors (FII) sold 810 crores, while Domestic Institutional Investors (DII) bought 401 crores.
Traders who follow the musical octave trading path may find valuable insights in predicting Nifty’s movements. According to this path, Nifty may follow a path of 16825-17326-17826. This means that traders can take a position and potentially ride the move as Nifty moves through these levels.Of course, it’s important to keep in mind that trading is inherently risky and market movements can be unpredictable.
Trading discipline” comes from modifying one’s behaviour in a desired direction and overcoming the mental resistance and fear that generally get in the way.
For Positional Traders, The Nifty Futures’ Trend Change Level is At 17612 . Going Long Or Short Above Or Below This Level Can Help Them Stay On The Same Side As Institutions, With A Higher Risk-reward Ratio. Intraday Traders Can Keep An Eye On 17712 , Which Acts As An Intraday Trend Change Level.