Foreign Institutional Investors (FIIs) displayed a Bullish approach in the Nifty Index Futures market by Buying 2335 contracts worth 266 crores, resulting in a increase of 19 contracts in the Net Open Interest. FIIs added 5349 long contracts and 3085 short contracts were added by them , indicating a preference for adding LONG and adding SHORT positions .With a Net FII Long Short ratio of 0.52 FIIs utilized the market rise to enter Long positions and enter short positions in NIFTY Futures. Clients have covered 29815 long and 22671 Shorts were covered by them.
Nifty continues fail to close above its 3×4 Gann Angle also failed to close above its Octave Point of 22118. In the last 4 trading sessions, Nifty continue to trade in Mars Ingress range. Therefore, Bulls need a close above 22200 for a trending move to occur. Tomorrow, we will have the Weekly/Monthly/Quarterly/Annual closing for Nifty. Additionally, tomorrow we have Bayer’s Rule No. 38, ‘Mercury Latitude Heliocentric.’ Some significant tops and bottoms are produced when Mercury in this motion passes the above-mentioned degrees, which will come into effect. Therefore, the first 15 minutes’ High and Low can guide traders.
Nifty will be completing 108 trading days from the 26th of October Low, and today, being during Mercury Retrograde, which is a very powerful astrological event, we can anticipate an explosive move in Nifty in next 2 trading session. Bears will need to break 22386 for a swing of 144 points from this level. Bulls aiming above 22530 will target 22729.
Nifty Trade Plan for Positional Trade ,Bulls will get active above 22535 for a move towards 22610/22684/22759. Bears will get active below 22386 for a move towards 22312/22238/22163
Traders may watch out for potential intraday reversals at 9:18,10:32,12:17,1:16,2:53 How to Find and Trade Intraday Reversal Times
Nifty April Futures Open Interest Volume stood at 0.83 lakh cr , witnessing a addition of 24 Lakh contracts. Additionally, the increase in Cost of Carry implies that there was a addition of SHORT positions today.
Nifty Advance Decline Ratio at 39:11 and Nifty Rollover Cost is @22327 closed below it.
Nifty Gann Monthly Trade level :22455 closed above it.
Nifty has closed above its 20/30 DMA suggesting trend is buy on dips till we are holding 22455
Nifty options chain shows that the maximum pain point is at 22500 and the put-call ratio (PCR) is at 0.85. 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 22500 strike, followed by 22600 strikes. On the put side, the highest OI is at the 22300 strike, followed by 22200 strikes. This suggests that the market participants are expecting Nifty 50 to remain range between 22200-22500 levels.
According To Todays Data, Retailers Have bought 132 K Call Option Contracts And 133 K Call Option Contracts Were Shorted by them. Additionally, They bought 156 K Put Option Contracts And 144 K Put Option Contracts were Shorted by them, Indicating A Bullish Bias.
In Contrast, Foreign Institutional Investors (FIIs) bought 180 K Call Option Contracts And 226 K Call Option Contracts Were Shorted by them. On The Put Side, FIIs bought 117 K Put Option Contracts And 181 K Put Option Contracts were Shorted by them, Suggesting They Have Turned To Bearish Bias.
In the cash segment, Foreign Institutional Investors (FII) bought 522 crores, while Domestic Institutional Investors (DII) bought 1208 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 21775-22404-23071 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.
You’ve told yourself that you need to follow your rules, that you need to trade smaller, or that you should avoid trading during certain market conditions or times of day. Still you make the same mistakes, lose money, and build frustration., your attempts at change fail because they lack emotional force.
For Positional Traders, The Nifty Futures’ Trend Change Level is At 22558. 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 22599, Which Acts As An Intraday Trend Change Level.
Nifty Intraday Trading Levels
Buy Above 22455 Tgt 22490, 22525 and 22575 ( Nifty Spot Levels)
Sell Below 22371 Tgt 22343, 22312 and 22255 ( 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.