Foreign Institutional Investors (FIIs) displayed a Bearish approach in the Nifty Index Futures market by Selling 8140 contracts worth 742 crores, resulting in a decrease of 3222 contracts in the Net Open Interest. FIIs sold 2113 long contracts and added 4043 short contracts, indicating a preference for adding new SHORT positions .With a Net FII Long Short ratio of 0.90 , FIIs utilized the market fall to exit Long positions and enter short positions in NIFTY Futures.
Nifty saw an Impact of Mercury Ingress astro event as discussed in below video. Price has also reacted from 1×4 angle
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.
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 9:15,10:21,11:22,1:42,2:47 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 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 18200 and the put-call ratio (PCR) is at 0.92 . 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 874 K Call Option Contracts And 755 K Call Option Contracts Were Shorted by them. Additionally, They bought 16.6 K Put Option Contracts And 107 K Put Option Contracts were Shorted by them, Indicating A BULLISH Outlook.
In Contrast, Foreign Institutional Investors (FIIs) bought 45.8 K Call Option Contracts And 111 K Call Option Contracts Were Shorted by them. On The Put Side, FIIs bought 5.2 K Put Option Contracts And 38 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 18300 strike, followed by 18400 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 149 crores, while Domestic Institutional Investors (DII) sold 203 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
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 18232 , Which Acts As An Intraday Trend Change Level.