Foreign Institutional Investors (FIIs) displayed a Bullish approach in the Nifty Index Futures market by Buying 2327 contracts worth 204 crores, resulting in a increase of 2321 contracts in the Net Open Interest. FIIs bought 4504 long contracts and covered 2074 short contracts, indicating a preference for adding new Buying positions .With a Net FII Long Short ratio of 0.96 , FIIs utilized the market fall to enter Long positions and exit short positions in NIFTY Futures.
Nifty saw the impact of Mercury ingress and we saw a decent decline. Any close below 18150 can lead to sharp fall today towards 18042. Nifty did 2 target on downside before sharp rally in last 1 hour. Price is approching back 1×2 gann angle.
Tommrow we have Venus Opposition Mercury HELIO Aspect Moon at Extreme Declination and Sun Ingress with another important astro event happening on weekend so expect gap open on Monday so carry overnight position with hedge.
For Intraday traders watch for first 15 Mins HIgh and low to get the trend for the day. Price is near 1×2 line and last week low was 18100 if we break 18100 tommrow we will form Outside Bar on Weekly Chart which is strong reversal signal.
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– Closed below 18254 waiting for final target of 18012
Traders may watch out for potential intraday reversals at 9:15,10:20,11:11,12:12,1:38,2:43 How to Find and Trade Intraday Reversal Times
Nifty May Futures Open Interest Volume stood at 1.07 lakh, witnessing a liquidation of 9.2 lakh contracts. Additionally, the decrease in Cost of Carry implies that there was a closure of SHORT positions today.
Nifty Advance Decline Ratio at 13:37 and Nifty Rollover Cost is @17885 and Rollover is at 58.7 %.
Nifty options chain shows that the maximum pain point is at 18150 and the put-call ratio (PCR) is at 0.93 . 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 18200 strike, followed by 18300 strikes. On the put side, the highest OI is at the 18100 strike, followed by 18000 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 970 crores, while Domestic Institutional Investors (DII) sold 849 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 below 18272
Remember, the first item on the agenda for a beginner is to learn how to trade, not to make money. Once you’ve learned to trade, money will follow.
For Positional Traders, The Nifty Futures’ Trend Change Level is At 18240. 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 18236, Which Acts As An Intraday Trend Change Level.