Foreign Institutional Investors (FIIs) displayed a Bearish approach in the Nifty Index Futures market by Selling 5116 contracts worth 471 crores, resulting in a increase of 8364 contracts in the Net Open Interest. FIIs bought 3657 long contracts and added 7593 short contracts, indicating a preference for adding new SHORT positions .With a Net FII Long Short ratio of 0.95 , FIIs utilized the market fall to enter Long positions and enter short positions in NIFTY Futures.
Nifty made new high today @18460 All Karnataka Election Talk took a back seat and price contiune to move higher unabated, Price made a bottom on first 15 mins and saw a rally as we have dicussed. Tommrow HDFC and HDFC Bank will go ex-divident and Jupiter is going ingress.
Tommrow we can see selling in HDFC twins as traders who bought for dividend will try to book profits, Again watch for first 15 mins High and Low to get to know the trend of the day.
Lot of traders are looking for reversal but wait for price to give a confirmation there is no point in shorting a raging bull market. First Sign of reversal will come when Nifty break 1 hour below 21 EMA.
Price is also approching 1×4 Gann angle.
Nifty saw an Impact of Mercury Ingress astro event as discussed in below video. Price has also reacted from 1×4 angle
For Swing Traders Bulls need to move above 18441 for a move towards 18510/18602/18683/18747. Bears will get active below 18254 for a move towards 18186/18093/18012
Traders may watch out for potential intraday reversals at 9:15,10:51,12:06,1:46,2:51 How to Find and Trade Intraday Reversal Times
Nifty May Futures Open Interest Volume stood at 1.16 lakh, witnessing a liquidation of 0.08 lakh contracts. Additionally, the decrease in Cost of Carry implies that there was a closure of SHORT positions today.
Nifty Advance Decline Ratio at 19:31 and Nifty Rollover Cost is @17885 and Rollover is at 58.7 %.
Nifty options chain shows that the maximum pain point is at 18300 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 754 K Call Option Contracts And 502 K Call Option Contracts Were Shorted by them. Additionally, They sold 109 K Put Option Contracts And 824 K Put Option Contracts were Shorted by them, Indicating A NEUTRAL Outlook.
In Contrast, Foreign Institutional Investors (FIIs) bought 12.3 K Call Option Contracts And 102 K Call Option Contracts Were Shorted by them. On The Put Side, FIIs sold 160 K Put Option Contracts And 150 K Shorted Put Option Contracts were covered by them, Suggesting They Have Turned To A BEARISH 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 18400 strike, followed by 18500 strikes. On the put side, the highest OI is at the 18200 strike, followed by 18100 strikes. This suggests that the market participants are expecting Nifty 50 to remain range between 18200-18400 levels.
In the cash segment, Foreign Institutional Investors (FII) bought 1406 crores, while Domestic Institutional Investors (DII) sold 886 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 close above 18272
When in trade mind will always get distracted with news/views but as a Traders we need to remain in now moment to be profitable.
For Positional Traders, The Nifty Futures’ Trend Change Level is At 18241 . 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 18381 , Which Acts As An Intraday Trend Change Level.