Foreign Institutional Investors (FIIs) displayed a Bullish approach in the Nifty Index Futures market by Buying 1555 contracts worth 153 crores, resulting in a increase of 1483 contracts in the Net Open Interest. FIIs bought 4473 long contracts and covered 1117 short contracts , indicating a preference for adding LONG and covering SHORT positions .With FII Long Short Ratio @82.8 % and FII Long to Short Ratio at 2.46 FII’s are heavily long in market , FIIs utilized the market rise to enter Long positions and exit short positions in NIFTY Futures.
The movement of the Lunar Node to Aries signifies a potential decline in business activity below normal levels, so it is crucial to observe management commentary to understand future earnings prospects.
Yesterday, the Nifty reached a fresh all-time high at 19,819. Today, the Nifty is completing a 120-degree movement from its low on 20th March. Additionally, we have two significant short-term astrological events: Venus Square Mercury HELIO and Pluto, along with Earth being at its minimum distance. These events involving Mercury, Venus, and the outer planet Pluto indicate the potential for volatile moves in the Nifty. The Nifty is also influenced by the combination of Venus, Mercury, and Gann Dates aligning together, suggesting a potent combination of Gann analysis and astrology, indicating the possibility of a significant market move. It is important to be prepared for such moves based on the levels mentioned below. Additionally, today, the RIL-Jio Financial demerger will take place, and since Reliance is an index heavyweight, any wild move in Reliance can impact the Nifty. Therefore, it is advised to trade cautiously in such circumstances.
Nifty Trade Plan Bulls will get active above 19720 for a move towards 19789/19589. Bears will get active below 19650 for a move towards 19581/18512/19442/19373
Nifty is near a crucial gann number of 19683 last time this number was at 19576 price did not close below this and gave a big rally, Next 2-3 days price action near 19683 is very important able to hold we can see rally towards 19881/20000. Break of 19600 fall towards 19410 in short term.
Traders may watch out for potential intraday reversals at 9:36,10:43,1:082,2:39 How to Find and Trade Intraday Reversal Times
Nifty July Futures Open Interest Volume stood at 1.04 lakh, witnessing a liquidation of 3.3 lakh contracts. Additionally, the increase in Cost of Carry implies that there was a covering of LONG positions today.
Nifty Advance Decline Ratio at 20:30 and Nifty Rollover Cost is @18884 and Rollover is at 69.7 %.
Nifty options chain shows that the maximum pain point is at 19700 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 19800 strike, followed by 19900 strikes. On the put side, the highest OI is at the 19700 strike, followed by 19600 strikes. This suggests that the market participants are expecting Nifty 50 to remain range between 19600-19800 levels.
According To Todays Data, Retailers Have bought 504 K Call Option Contracts And 185 K Call Option Contracts Were Shorted by them. Additionally, They sold 120 K Put Option Contracts And 885 K Shorted Put Option Contracts were covered by them, Indicating A Bullish Outlook.
In Contrast, Foreign Institutional Investors (FIIs) sold 65.3 K Call Option Contracts And 42 K Call Option Contracts Were Shorted by them. On The Put Side, FIIs sold 42.3 K Put Option Contracts And 223 K Put Option Contracts were Shorted by them, Suggesting They Have Turned To A BULLISH Bias.
In the cash segment, Foreign Institutional Investors (FII) bought 2115 crores, while Domestic Institutional Investors (DII) sold 1317 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 18890-19452-20014 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 19452.
Confidence is trait which a trader needs to develop to make money on consistent basis. Trading success is achieved when trader is able to execute trades confidently and overcoming trading emotions.
For Positional Traders, The Nifty Futures’ Trend Change Level is At 19461. 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 19761 , Which Acts As An Intraday Trend Change Level.