Foreign Institutional Investors (FIIs) displayed a Bullish approach in the Index Futures market by buying 5847 contracts worth 527 crores, resulting in a decrease of 7677 contracts in the Net Open Interest. FIIs sold 891 long contracts and covered 6786 short contracts, indicating a preference for closing positions in Long and Short. With a Net FII Long Short ratio of 0.83 , FIIs utilized the market rise to exit long positions and exit short positions in Index Futures.
As Discussed in Last Analysis Nifty once sustained above Previous day High and saw a move towards 17754 Price are approaching the 50% point of 17817 and 17826 which is muscial octave. Till Nifty is above 17612 its Buy on Dips market
Jupiter Contra Antis Saturn, This aspect is a rare occurrence and can have significant effects on the stock market. and “Bayer Rule 2: Trend goes down within 3 days when the speed difference between Mars and Mercury is 59 minutes. Leads to Big Move ” are two important Astro Events happening tommrow.Price are approaching the 50% point of 17817 and 17826 which is muscial octave.
For Swing Traders Break of 17707 can see a fall towards 17669/17619/17576. Bulls will get active above 17826 for a move towards 17903/17946/17981
Traders may watch out for potential intraday reversals at 9:47,10:31,12:19,1:39,2:07 How to Find and Trade Intraday Reversal Times
Price has bounced from 200 DMA and facing resistance at 17830.
Nifty May Futures Open Interest Volume stood at 0.37 lakh, witnessing a addition of 1.3 lakh contracts. Additionally, the decrease in Cost of Carry implies that there was a closure of short positions today.
Nifty options chain shows that the maximum pain point is at 17700 and the put-call ratio (PCR) is at 0.91. 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 Todays Data, Retailers Have bought 64033 Call Option Contracts And 56984 Shorted Call Option Contracts Were covered by them. Additionally, They sold 500788 Put Option Contracts And 392581 Shorted Put Option Contracts were covered by them, Indicating A BULLISH Outlook.
In Contrast, Foreign Institutional Investors (FIIs) sold 80454 Call Option Contracts And 47406 Shorted Call Option Contracts Were covered by them. On The Put Side, FIIs sold 37563 Put Option Contracts And 59139 Shorted Put Option Contracts were covered by them, Suggesting They Have Turned To A BEARSIH Bias.
Nifty 50 Options Chain Analysis
The Nifty 50 options chain indicates that the highest open interest (OI) on the call side is at the 17,800 strike, followed by 17,900 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 17600-17900 levels.
In the cash segment, Foreign Institutional Investors (FII) sold 407 crores, while Domestic Institutional Investors (DII) bought 563 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.
The successful speculator bases NO moves on what supposedly will happen, but reacts instead to what does happen.
For Positional Traders, The Nifty Futures’ Trend Change Level is At 17636 . 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 17779, Which Acts As An Intraday Trend Change Level.