Analysis of FIIs’ behavior in the Nifty Index Futures market shows a Bearish approach as they displayed a preference for Short positions. On a net basis, FIIs went short 5673 contracts worth 560 crores, resulting in an decrease of 1209 contracts in the Net Open Interest. Additionally, they sold 1007 long contracts and added 7140 short contracts, indicating a strategy of closing long positions and adding short positions.
Nifty has been trading in a sideways zone, which suggests that a trending move may be expected in the next two days based on the Full Moon and Mars Trine Jupiter Aspect as discussed in Below Video. For Intraday Traders tommrow first 15 mins HIgh and Low will guide for the day.
Based on Gann Angles Price need a close Hold 19600 which is 1×1 gann angle for short term bullishness to sustain.
Nifty Swing Trade Plan Bulls will get active above 19772 for a move towards 19842/19912/19982. Bears will get active below 19703 for a move towards 19633/19563.
Traders may watch out for potential intraday reversals at 09:51,12:48,1:09,2:21,2:57 How to Find and Trade Intraday Reversal Times
Nifty July Futures Open Interest Volume stood at 1.09 lakh, witnessing a liquidation of .19 lakh contracts. Additionally, the increase in Cost of Carry implies that there was a covering of LONG positions today.
Nifty Advance Decline Ratio at 36:14 and Nifty Rollover Cost is @19860 and Rollover is at 73.9 %.
Nifty is back to its 20 SMA support.
Nifty options chain shows that the maximum pain point is at 19700 and the put-call ratio (PCR) is at 0.92 . 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. Total Calls OI is 6.1 CR and Total Put OI is 5.33 CR, This suggests that the market participants are expecting Nifty 50 to remain range between 19600-19900 levels.
According To Todays Data, Retailers Have bought 466 K Call Option Contracts And 615 K Call Option Contracts Were Shorted by them. Additionally, bought 152 K Put Option Contracts And 125 K Shorted Put Option Contracts were covered by them, Indicating A BULLISH Outlook.
In Contrast, Foreign Institutional Investors (FIIs) bought 67.5 K Call Option Contracts And 77 K Call Option Contracts Were Shorted by them. On The Put Side, FIIs bought 66.9 K Put Option Contracts And 153 K Put Option Contracts were Shorted by them, Suggesting They Have Turned To A NEUTRAL Bias.
In the cash segment, Foreign Institutional Investors (FII) sold 701 crores, while Domestic Institutional Investors (DII) bought 2488 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 took resistance near 20014 and have seen fall towards 19680
To make One Good Trade you must prepare properly, work hard, and have patience
For Positional Traders, The Nifty Futures’ Trend Change Level is At 19797 . 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 19799 , Which Acts As An Intraday Trend Change Level.
Intraday Trading Levels
Buy Above 19772 Tgt 19800, 19836 and 19888 (Nifty Spot Levels)
Sell Below 19703 Tgt 19666, 19630 and 19600 (Nifty Spot Levels)
Wishing you good health and trading success as always.As always, prioritize your health and trade with caution.
As always, it’s essential to closely monitor market movements and make informed decisions based on a well-thought-out trading plan and risk management strategy. Market conditions can change rapidly, and it’s crucial to be adaptable and cautious in your approach.