Foreign Institutional Investors (FIIs) displayed a Bearish approach in the Index Futures market by Selling 7677 contracts worth 804 crores, resulting in a increase of 12261 contracts in the Net Open Interest. FIIs bought 2292 long contracts and added 9969 short contracts, indicating a preference for Shorting positions .With a Net FII Long Short ratio of 0.82 , FIIs utilized the market fall to enter long positions and enter short positions in Index Futures.
Nifty was unable to breach the May 3rd low of 18042, and once the high of 18116 was crossed, bulls had the upper hand, and the price has closed above the 1×2 Gann angle. Nifty is also approaching the January high of 18252 and the musical octave of 18275. Bulls have the upper hand until they can close above 18042. As a trader, our job is to stay with the trend and not anticipate the next move by taking aggressive positions. Nifty has decoupled from the global market, but as a trader, we should remain alert and not get carried away by news. For Reversal Nifty has to close below 20 SMA on 1 Hour chart.
The stock market is a complex system influenced by various factors, including economic indicators, political events, and natural phenomena. One such natural phenomenon is the lunar eclipse, which has been observed to potentially impact the stock market, particularly the Nifty index. A lunar eclipse occurs when the Earth passes between the Sun and the Moon, casting a shadow on the Moon. This celestial event is visible from most parts of the world when the Moon is in the full moon phase.
Historical trends suggest that lunar eclipses can have a short-term impact on the stock market, with a potential dip in performance during and after the eclipse. A study conducted by the National Bureau of Economic Research found that stock market returns were significantly lower during lunar eclipses compared to non-eclipse days
Nifty saw the impact of Lunar Cycle and Jupiter Cycle as discussed in Below Video From 30-Sep-2022 if you calculate 144 Bar ie. trading days it will give you 144 Bars which is also Jupiter Cycle.
Nifty made high of 18267 near the Jan High of 18251 on 04 May which was Jupiter Cycle date and saw a waterfall decline based on HDFC Twins MSCI News and price is back towards 18025. 18025 break can lead to fall towards 17940/17812 Bulls need a move above 18131 Yealy Open for a move towards 18225/18323
Traders may watch out for potential intraday reversals at 10:15,11:19,12:39,2:25 How to Find and Trade Intraday Reversal Times
Nifty May Futures Open Interest Volume stood at 0.95 lakh, witnessing a liuidation of 0.13 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 Major Support is near 20 SMA@17812
Nifty options chain shows that the maximum pain point is at 18100 and the put-call ratio (PCR) is at 0.97. Typically, when the PCR open interest ranges between 0.90 and 1.05, the market tends to remain range-bound.
According To Todays Data, Retailers Have bought 268 K Call Option Contracts And 239 K Call Option Contracts Were Shorted by them. Additionally, They bought 313 K Put Option Contracts And 585 K Put Option Contracts were Shorted by them, Indicating A BULLISH Outlook.
In Contrast, Foreign Institutional Investors (FIIs) bought 517 K Call Option Contracts And 467 K Call Option Contracts Were Shorted by them. On The Put Side, FIIs bought 275 K Put Option Contracts And 133 K Put Option Contracts were Shorted 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 18200 strike, followed by 18300 strikes. On the put side, the highest OI is at the 18000 strike, followed by 17900 strikes. This suggests that the market participants are expecting Nifty 50 to remain range between 18000-18200 levels.
In the cash segment, Foreign Institutional Investors (FII) bought 777 crores, while Domestic Institutional Investors (DII) bought 2198 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 17744-18272-18800 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 come near 18272 and saw a dip.
You need to absorb losses if you cannot absorb string of loss how you can really last in this kind of business.
For Positional Traders, The Nifty Futures’ Trend Change Level is At 18129. 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 18187 , Which Acts As An Intraday Trend Change Level.