Foreign Institutional Investors (FIIs) displayed a Bullish approach in the Nifty Index Futures market by Buying 2971 contracts worth 291 crores, resulting in a decrease of 49371 contracts in the Net Open Interest. FIIs sold 22043 long contracts and covered 31235 short contracts , indicating a preference for covering LONG and SHORT positions due to Monthly expiry .With a Net FII Long Short ratio of 1.97 FIIs utilized the market rise to exit Long positions and exit short positions in NIFTY Futures.
As Discussed in Last Analysis 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.
When Both Gann and Astro Cycle combine its leads to an explosive move, Nifty has hit a new life high, We have Weekly/Monthly/Quaterly closing tommrow Bulls would like to close above 19000 for a good mometum to coming in July Series. Tommrow we have Multiple Astro events tommrow
- Sun Conjuct Mercury in Cancer
- Mercury Trine Saturn
- Neptune Retrograde
- MERCURY Extreme Declination
So first 15 mins High and Low will guide for the day.
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. — All Bullish target done, Now Bulls need a close above 18998 for a move towards 19067/19136/19204. Bears will get active below 18873 for a move towards 18804/18735/18666.
Traders may watch out for potential intraday reversals at 9:15,9:55,12:30,2:12,2:54 How to Find and Trade Intraday Reversal Times
Nifty July Futures Open Interest Volume stood at 0.91 lakh, witnessing a addition of 28 lakh contracts. Additionally, the increase in Cost of Carry implies that there was a adding of LONG positions today.
Nifty Advance Decline Ratio at 42:08 and Nifty Rollover Cost is @18884 and Rollover is at 69.7 %.
Major Support for Nifty us at 18695 @ 20 SMA closed above it
Nifty options chain shows that the maximum pain point is at 18950 and the put-call ratio (PCR) is at 1.08. 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 19100 strike, followed by 19200 strikes. On the put side, the highest OI is at the 188900 strike, followed by 18800 strikes. This suggests that the market participants are expecting Nifty 50 to remain range between 18900-19100 levels.
Days taken by Nifty for every 1,000 point rallies
9000-10000 : 36
10000-11000 : 33
11000-12000 : 59
12000-13000 : 31
13000-14000 : 25
14000-15000 : 25
15000-16000 : 120
16000-17000 : 19
17000-18000 : 28
18000-19000 : 425
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 has closed above 18890 heading towards 19452 till we are above 18890
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 19107 . 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 19053 , Which Acts As An Intraday Trend Change Level.