Foreign Institutional Investors (FIIs) displayed a Neutral approach in the Index Futures market by shorting 2058 contracts worth 305 crores, resulting in a decrease of 49180 contracts in the Net Open Interest. FIIs sold 28209 long contracts and covered 20971 short contracts, indicating a preference for closing positions in Long and Short. With a Net FII Long Short ratio of 0.70 , FIIs utilized the market rise to exit long positions and exit short positions in Index Futures.
As Discussed in Last Analysis Nifty high made was 17827 so bulls are unable to close above the range of 17817 which is a combination of Gann and Astro levels, Today we have monthly expiry and premium of CE and PE are very low, expect good volatlity in market today as we have “Bayer Rule 33: Moves are when Mars in Geocentric longitude passes over 16 degrees 55 minutes 46 seconds. ” which has Mars plannet in it, Mars bring volatlity in the market so hopefully we will see a good volatilie move today.
Price has closed above 17858 till we are closing above 17858 rally continue towards 18025/18115, Nifty has rallied 1000 points in April Series Last time we have seen this kind of move in Oct 2023 and nifty took 1-1.5 month to top out so do not just short market thinking it has gone up too much, Wait for your levels to come till than stay on sideline. Today we have Multiple Lunar Cycle day so watch out for 3 PM candel for a big move either side.
Price continue to make Higher High and today being Monthly close Bulls would like to close above 17858 and bears below 17820.
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– 17946 will be done today by open.
Traders may watch out for potential intraday reversals at 9:20,10:03,11:51,1:32,2:26 How to Find and Trade Intraday Reversal Times
Price has closed above 100 DMA so price is above all MA.
Nifty May Futures Open Interest Volume stood at 0.82 lakh, witnessing a addition of 25 lakh contracts. Additionally, the increase in Cost of Carry implies that there was a addition of Long positions today.
Nifty Rollover Cost is @17885 and Rollover is at 58.7 %
Nifty options chain shows that the maximum pain point is at 17900 and the put-call ratio (PCR) is at 1.01. Typically, when the PCR open interest ranges between 0.90 and 1.05, the market tends to remain range-bound.
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 17700-18000 levels.
In the cash segment, Foreign Institutional Investors (FII) bought 1652 crores, while Domestic Institutional Investors (DII) bought 97 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. Price has closed above 17826
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 18000. 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 17950, Which Acts As An Intraday Trend Change Level.