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 6359 contracts worth 626 crores, resulting in an decrease of 7381 contracts in the Net Open Interest. Additionally, they sold 9010 long contracts and added 753 short contracts, indicating a strategy of closing long positions and adding short positions.
As Discussed in Last Analysis
Another Sideways day in Nifty and price is near its 1×1 gann angle formed an NR7 pattern meaning range of Nifty is lowest in last 7 trading session , Based on astro and gann time confluence as discussed below video we should get big move in next 2 trading sessions.
We got the big move as gann and astro time confluenced as discussed in below video, Price has broken 1×1 Gann Angle and heading towards 4×3 angle around 19025-19050. Gann 90 days cycle and Mars Trine Jupiter Aspect again helped in capturing the big move as explained in below video.
Nifty Bulls need to protect 19319 which is Octave point of current move.
Traders may watch out for potential intraday reversals at 9:45,12:15,1:50,2:22 How to Find and Trade Intraday Reversal Times
Nifty July Futures Open Interest Volume stood at 1.04 lakh, witnessing a liquidation of 3.5 lakh contracts. Additionally, the increase in Cost of Carry implies that there was a covering of LONG positions today.
Nifty Advance Decline Ratio at 07:43 and Nifty Rollover Cost is @19860 and Rollover is at 73.9 %.
Nifty has broken its 20 SMA support and heading towards 50 SMA @19853
Nifty options chain shows that the maximum pain point is at 19500 and the put-call ratio (PCR) is at 1.02 . 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 19600 strike, followed by 19700 strikes. On the put side, the highest OI is at the 19400 strike, followed by 19300 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 176K Call Option Contracts And 140 K Shorted Call Option Contracts Were covered by them. Additionally, they sold 63 K Put Option Contracts And 72 K Shorted Put Option Contracts were covered by them, Indicating A Bullish Outlook.
In Contrast, Foreign Institutional Investors (FIIs) bought 167 K Call Option Contracts And 135 K Call Option Contracts Were Shorted by them. On The Put Side, FIIs bought 200 K Put Option Contracts And 107 K Put Option Contracts were Shorted by them, Suggesting They Have Turned To A BEARISH Bias.
In the cash segment, Foreign Institutional Investors (FII) sold 1878 crores, while Domestic Institutional Investors (DII) sold 2 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 19452
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 19767. 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 19621, Which Acts As An Intraday Trend Change Level.
Intraday Trading Levels
Buy Above 19550 Tgt 19575, 19610 and 19666 (Nifty Spot Levels)
Sell Below 19450 Tgt 19407, 19370 and 19335 (Nifty Spot Levels)
Upper End of Expiry : 19564
Lower End of Expiry :19335
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.