Foreign Institutional Investors (FIIs) displayed a Bullish approach in the Nifty Index Futures market by BUYING 10976 contracts worth 1017 crores, resulting in a increase of 14506 contracts in the Net Open Interest. FIIs bought 12877 long contracts and covered 245 short contracts, indicating a preference for adding NEW LONG positions .With a Net FII Long Short ratio of 1.60 , FIIs utilized the market rise to enter Long positions and exit short positions in NIFTY Futures.
As Discussed in Last Analysis Nifty saw a decline in morning but covered all in last hour of trade, Today we have North Node Aspect which leads to volatile move and weekly close also, Bulls would like to have close around 18385-18400 and bears below 18225-18200.
Negotiators from the White House and the Republican Party came to a tentative agreement late on Saturday to raise the US debt ceiling and prevent a default that threatened to shake the world economy. During a 90-minute phone discussion, President Joe Biden and House Speaker Kevin McCarthy finalised the agreement. Markets have been rallying on the news can this be classic case of Buy rumuor and Sell NEws.
29 May Bayer Rule 27: Big tops and big major bottoms are when Mercury’s speed in Geocentric longitude is 59 minutes or 1 degree 58 minutes. will become active Watch for first 15 mins High and Low to get the trend of the day.
Price has closed above 20 SMA on Daily time frame with Hammer formation. For Swing Traders Bulls need to move above 18329 for a move towards 18396/18463 Bears will get active below 18262 for a move towards 18194/18127 — All Bullish target done now Bulls are heading towards 18563/18610/18666 till price is holding 18420.
Traders may watch out for potential intraday reversals at 9:15,10:14,1:00,1:57,2:26 How to Find and Trade Intraday Reversal Times
Nifty June Futures Open Interest Volume stood at 0.95 lakh, witnessing a addition of 8.3 lakh contracts. Additionally, the increase in Cost of Carry implies that there was a addition of LONG positions today.
Nifty Advance Decline Ratio at 44:05 and Nifty Rollover Cost is @18407 and Rollover is at 66.8%.
Nifty options chain shows that the maximum pain point is at 18400 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.
According To Todays Data, Retailers Have bought 811 K Call Option Contracts And 102 K Call Option Contracts Were Shorted by them. Additionally, They bought 198 K Put Option Contracts And 177 K Put Option Contracts were Shorted by them, Indicating A BULLISH Outlook.
In Contrast, Foreign Institutional Investors (FIIs) bought 245 K Call Option Contracts And 153 K Call Option Contracts Were Shorted by them. On The Put Side, FIIs bought 277 K Put Option Contracts And 255 K Put Option Contracts were Shorted by them, Suggesting They Have Turned To A NEUTRAL 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 18500 strike, followed by 18600 strikes. On the put side, the highest OI is at the 18400 strike, followed by 18300 strikes. This suggests that the market participants are expecting Nifty 50 to remain range between 18300-18600 levels.
In the cash segment, Foreign Institutional Investors (FII) bought 350 crores, while Domestic Institutional Investors (DII) bought 1840 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
Don’t trade on emotion. Trading is a numbers game, and it’s important to make decisions based on logic and analysis, not emotion.
For Positional Traders, The Nifty Futures’ Trend Change Level is At 18436 . 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 18512, Which Acts As An Intraday Trend Change Level.
Great logic and useful information
Very good analysis.