Nifty Monthly Expiry Analysis: Insights for June 28, 2023

By | June 27, 2023 11:09 pm

Foreign Institutional Investors (FIIs) displayed a Bullish approach in the Nifty Index Futures market by Buying 16393 contracts worth 2860 crores, resulting in a increase of 237709 contracts in the Net Open Interest. FIIs bought 42113 long contracts and bought 6650 short contracts , indicating a preference for adding LONG and adding SHORT positions .With a Net FII Long Short ratio of 1.52 FIIs utilized the market rise to enter Long positions and enter short positions in NIFTY Futures.

As Discussed in Last Analysis    We have Mercury Ingress tommrow as discuused in below video so we could see a possible range expansion with Multiple Astro and Gann date of 66 days coming. When gann and astro combine leads to big move as per past data.

We got the big move as expected as Both gann and astro date combined as discussed in below video, NIfty can Hit all time high tommrow and any 30 mins  close above 18890 can lead to short covering till 19000.



Nifty Trade Plan Based  Bulls will get active above 18722 for a move towards 18759/18797/18835/18872/18910. Bears will get active below 18646 for a move towards 18609/18571/1853/18496. — Waiting for 18835/18872/18910


Traders may watch out for potential intraday reversals at 9:28,10:39,12:19,2:18,3:01  How to Find and Trade Intraday Reversal Times

Nifty June Futures Open Interest Volume stood at 0.53 lakh, witnessing a liquidation of 18.8 lakh contracts. Additionally, the increase in Cost of Carry implies that there was a covering of SHORT positions today.

Nifty Advance Decline Ratio at 38:12 and Nifty Rollover Cost is @18407 and Rollover is at 66.8%.

Major Support for Nifty us at 18681 @ 20 SMA closed above it

Nifty options chain shows that the maximum pain point is at 18750 and the put-call ratio (PCR) is at 1. 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 18900 strike, followed by 19000 strikes. On the put side, the highest OI is at the 18800 strike, followed by 18600  strikes. This suggests that the market participants are expecting Nifty 50 to remain range between 18900-19000 levels.

According To Todays Data, Retailers Have sold 146 K Call Option Contracts And 105 K Call Option Contracts Were Shorted by them. Additionally, They bought 692 K Put Option Contracts And 496 K Put Option Contracts were Shorted by them, Indicating A BEARISH  Bias.

In Contrast, Foreign Institutional Investors (FIIs) bought 51.2 K Call Option Contracts And 156 K Call Option Contracts Were Shorted by them. On The Put Side, FIIs bought 692 K Put Option Contracts And 496 K Put Option Contracts were Shorted by them, Suggesting They Have Turned To BULLISH Bias.

In the cash segment, Foreign Institutional Investors (FII) bought 2024 crores, while Domestic Institutional Investors (DII) sold 1991 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 18360-18890-19452 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 will again come and hit @18886


Fundamental of Trading : 1. Proper preparation 2. Hard work 3. Patience 4. A detailed plan before every trade 5. Discipline 6. Trade Journal 7. Replaying important trades

For Positional Traders, The Nifty Futures’ Trend Change Level is At 18714. 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 18770 , Which Acts As An Intraday Trend Change Level.

Intraday Trading Levels

Buy Above 18902 Tgt 18935, 18970 and 19006 (Nifty Spot Levels)

Sell Below 18802 Tgt 18777, 18743 and 18714 (Nifty Spot Levels)

Upper End of Expiry : 19006

Lower End of Expiry : 18793

Wishing you good health and trading success as always.As always, prioritize your health and trade with caution.

Category: Daily

About Bramesh

Bramesh Bhandari has been actively trading the Indian Stock Markets since over 15+ Years. His primary strategies are his interpretations and applications of Gann And Astro Methodologies developed over the past decade.

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