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 1955 contracts worth 189 crores, resulting in an decrease of 3061 contracts in the Net Open Interest. Additionally, they sold 3662 long contracts and added 2029 short contracts, indicating a strategy of covering long positions and of adding short positions. Till Date FII’s are covered 31067 Long and added 2282 SHORT and Retailers are long 235825 contracts and covered 28447 contracts.
NIfty did 19555 and we saw a reversal from higher levels closed below 19400, US Fed will speak of Jackson Hole today evening ,its market turning event as last time when Fed spoke US market saw a decline of 3.5 % in 1 week,We also have important astro event happening on Weekend so trade with hedge for overnight positions.
- Mars Ingress
- Moon Declination
- “Bayer Rule 2: Trend goes down within 3 days when the speed difference between Mars and Mercury is 59 minutes. Leads to Big Move “
- Saturn Earth Maxium Distance
- Sun Opposition Saturn
Nifty Trade Plan Bulls will get active above 193888 for a move towards 19444/19514/19584. Bears will get active below 19234 for a move towards 19164/19094/19024
Traders may watch out for potential intraday reversals at 10:54,11:21,12:54,1:47,2:16 How to Find and Trade Intraday Reversal Times
Nifty July Futures Open Interest Volume stood at 0.95 lakh, witnessing a liquidation of 2.1 lakh contracts. Additionally, the increase in Cost of Carry implies that there was a covering of SHORT positions today.
Nifty Advance Decline Ratio at 30:20 and Nifty Rollover Cost is @19860 and Rollover is at 73.9 %.
Nifty has reacted from from 20 SMA @19509 and today trading below 19364 , Any break of 19234 fast fall towards 18888
Nifty options chain shows that the maximum pain point is at 19300 and the put-call ratio (PCR) is at 0.91 . 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 19500 strike, followed by 19600 strikes. On the put side, the highest OI is at the 19300 strike, followed by 19200 strikes. This suggests that the market participants are expecting Nifty 50 to remain range between 19200-19500 levels.
In the cash segment, Foreign Institutional Investors (FII) bought 1524 crores, while Domestic Institutional Investors (DII) bought 5796 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 below 19452 5 days in a row
One of the most important attributes of a professional trader is the willingness to accept full responsibility for one’s actions. One can never improve if every mistake is the broker’s, or the fault of the data vendor, or the software.
For Positional Traders, The Nifty Futures’ Trend Change Level is At 19554 . 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 19480 , Which Acts As An Intraday Trend Change Level.
Intraday Trading Levels
Buy Above 19343 Tgt 19385, 19410 and 19444 (Nifty Spot Levels)
Sell Below 19250 Tgt 19225, 19185 and 19144 (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.