RBI Policy :Nifty 05 April 2024 Trade Plan

By | April 4, 2024 8:58 pm

Foreign Institutional Investors (FIIs) displayed a Bearish approach in the Nifty Index Futures market by Shorting 15508   contracts worth 1749 crores, resulting in a decrease of 10076 contracts in the Net Open Interest. FIIs covered 9275  long contracts and 7404 short contracts were covered by them , indicating a preference for covering  LONG and covering SHORT positions .With a Net FII Long Short ratio of 0.81 FIIs utilized the market rise to exit  Long positions and exit  short positions in NIFTY Futures. Clients have covered 23174  long and 7404 Shorts were added by them.

As Discuused in Last Analysis

Nifty formed an outside bar today and gap down was bought into but again price failed to close above 22455 which was QUaterly open, tommrow we have SUN Conjunct North Node so we can expect voaltlity in the market.Nifty has made 5 tops above 22500 since March 7th till date: 22525, 22526, 22516, 22529 (ATH), today 22521 (27 days), so Bulls need 22530 break for an implusive upmove and Bears need to break today 22388 for impulsive down move.

North Node did its work and we saw huge voaltlity in the market. Now Tommrow we have RBI Policy at 10 AM and Venus Ingress, Venus is one of the closest planets to Earth, meaning that its Ingress are more powerful and intense than other planets. It has us rethinking and reassessing all this Venusian: relationships, affection, money, pleasure, and art. Nifty has formed Multiple Outsdie Bar in last 2 trading session and today we had an all time high closing. Tomorrow first 15 mins High and Low will decide the trend of the day.

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 9:38,11:41,1:15,2:44 How to Find and Trade Intraday Reversal Times

Nifty April  Futures Open Interest Volume stood at 0.98  lakh cr , witnessing a liquidation of 3.1 Lakh  contracts. Additionally, the increase in Cost of Carry implies that there was a closeure of SHORT positions today.

Nifty Advance Decline Ratio at 31:19 and Nifty Rollover Cost is @22327  closed above 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 — Price has closed above 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 sold 104  K Call Option Contracts And 90 K Call Option Contracts Were Shorted by them. Additionally, They sold 534 K Put Option Contracts And 110 K Put Option Contracts were Shorted by them, Indicating A Bullish Bias.

In Contrast, Foreign Institutional Investors (FIIs) sold 111 K Call Option Contracts And 172 K Call Option Contracts Were Shorted by them. On The Put Side, FIIs sold 99 K Put Option Contracts And 110 K Put Option Contracts were Shorted by them, Suggesting They Have Turned To Bearish Bias.

In the cash segment, Foreign Institutional Investors (FII) sold 1136  crores, while Domestic Institutional Investors (DII) sold 893  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.

The longer the market goes one way or the other the greater the buying or selling in the last stage, because hope or fear increases as the market advances or declines, and it is hope and fear, not sound judgment, that most people trade on

For Positional Traders, The Nifty Futures’ Trend Change Level is At 22556  . 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 22565, Which Acts As An Intraday Trend Change Level.

Nifty Intraday Trading Levels

Buy Above 22575 Tgt 22610, 22666   and 22699 ( Nifty Spot Levels)

Sell Below 22496 Tgt 22461, 22430 and 22400 ( 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.

Category: Daily

About Bramesh

Bramesh Bhandari has been actively trading the Indian Stock Markets since over 15+ Years. His primary strategies are his interpretations and applications of Gann And Astro Methodologies developed over the past decade.

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