Foreign Institutional Investors (FIIs) displayed a Bearish approach in the Nifty Index Futures market by Shorting 6037 contracts worth 563 crores, resulting in a decease of 7361 contracts in the Net Open Interest. FIIs sold 6707 long contracts and added 172 short contracts were covered by them, indicating a preference for covering LONG and SHORT positions .With a Net FII Long Short ratio of 0.85 FIIs utilized the market fall to exit Long positions and exit short positions in NIFTY Futures.
As Discussed in Last Analysis Bayer Rule 2: Trend goes down within 3 days when the speed difference between Mars and Mercury is 59 minutes. Leads to Big Move watch for 15 mins High and Low to capture trend for the day.
A double ingress refers to the occurrence when two planets change their zodiac signs simultaneously. This alignment can have astrological implications and is often believed to influence various aspects of life, including financial markets.In astrology, planetary movements are considered to have a profound impact on human behavior and events. When two planets experience a double ingress, their combined energies and influences can create a unique configuration that may affect the overall market sentiment and specifically impact sectors such as banking. Last time we had Double Ingress on 19 May where Nifty made a short term bottom and saw a significant rally from 18060 till 18777.
Mercury is moving in Gemni and Pluto in Capricon on 11 JUne and Rahu in Aries on 12 June suggesting we are going to see an explosive move in Nifty.
For Swing Traders Bulls will get active above 18700 for a move towards 18777/18859 Bears will get active below 18610 for a move towards 18534/18453. Waiting for 18534/18453
Traders may watch out for potential intraday reversals at 9:16,11:11,12:06,1:36/2:02 How to Find and Trade Intraday Reversal Times
Nifty June Futures Open Interest Volume stood at 0.97 lakh, witnessing a liquidation of 1.6 lakh contracts. Additionally, the increase in Cost of Carry implies that there was a closure of LONG positions today.
Nifty Advance Decline Ratio at 16:34 and Nifty Rollover Cost is @18407 and Rollover is at 66.8%.
Major Support for Nifty us at 18443 @ 20 SMA
Nifty options chain shows that the maximum pain point is at 18600 and the put-call ratio (PCR) is at 1.14 . 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 18600 strike, followed by 18700 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 18500-18700 levels.
According To Todays Data, Retailers Have bought 155 K Call Option Contracts And 147 K Call Option Contracts Were Shorted by them. Additionally, They bought 689 K Put Option Contracts And 918 K Shorted Put Option Contracts were Shorted by them, Indicating A BULLISH Bias.
In Contrast, Foreign Institutional Investors (FIIs) bought 203 K Call Option Contracts And 240 K Call Option Contracts Were Shorted by them. On The Put Side, FIIs bought 160 K Put Option Contracts And 48 K Put Option Contracts were Shorted by them, Suggesting They Have Turned To BEARISH Bias.
In the cash segment, Foreign Institutional Investors (FII) sold 308 crores, while Domestic Institutional Investors (DII) bought 1245 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 made high of 18777
Don’t overtrade. It’s tempting to trade frequently, but this can lead to losses. It’s better to trade less and focus on making high-quality trades.
For Positional Traders, The Nifty Futures’ Trend Change Level is At 18638 . 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 18672, Which Acts As An Intraday Trend Change Level.