Foreign Institutional Investors (FIIs) displayed a Bearish approach in the Nifty Index Futures market by Shorting 7568 contracts worth 846 crores, resulting in a increase of 15110 contracts in the Net Open Interest. FIIs added 2829 long contracts and 2851 short contracts were added by them , indicating a preference for adding LONG and adding SHORT positions .With a Net FII Long Short ratio of 0.77 FIIs utilized the market rise to enter Long positions and enter short positions in NIFTY Futures. Clients have added 7269long and 5550 Shorts were added by them.
Nifty still not able to close above its 4×3 gann angle and closed above 50% point of the current move. Nifty till its Holding today Low 22198 Bulls will have upper hand till 25 April.
Nifty is back to its gann angle resistance and unable to close above 62.5 % retracement of current upmove suggesting selling at higher level With VIX crashing 20% suggesting complexcity on short term, TIll NIfty BUlls are 22198 holding this level BUlls will have upper hand.
Nifty Trade Plan for Positional Trade ,Bulls will get active above 22347 for a move towards 22421/22486/22570. Bears will get active below 22196 for a move towards 22127/22053/21978.
Traders may watch out for potential intraday reversals at 10:08,11:26,12:24,1:46,2:46 How to Find and Trade Intraday Reversal Times
Nifty April Futures Open Interest Volume stood at 0.87 lakh cr , witnessing a liquidation of 8.4 Lakh contracts. Additionally, the increase in Cost of Carry implies that there was a closeure of SHORT positions today.
Nifty Advance Decline Ratio at 23:26 and Nifty Rollover Cost is @22327 closed above it.
Nifty Gann Monthly Trade level :22455 below it above it.
Nifty closed above 20/50/100 SMA, Trend is Buy on Dips till above 22276.
Nifty options chain shows that the maximum pain point is at 22300 and the put-call ratio (PCR) is at 0.81. 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 22400 strike, followed by 22500 strikes. On the put side, the highest OI is at the 22200 strike, followed by 22100 strikes. This suggests that the market participants are expecting Nifty 50 to remain range between 22100-22400 levels.
According To Todays Data, Retailers Have bought 726 K Call Option Contracts And 649 K Call Option Contracts Were Shorted by them. Additionally, They bought 124 K Put Option Contracts And 105 K Put Option Contracts were Shorted by them, Indicating A Bullish Bias.
In Contrast, Foreign Institutional Investors (FIIs) bought 118 Call Option Contracts And 172 K Call Option Contracts Were Shorted by them. On The Put Side, FIIs bought 43 K Put Option Contracts And 148 K Put Option Contracts were Shorted by them, Suggesting They Have Turned To Bearish Bias.
In the cash segment, Foreign Institutional Investors (FII) sold 3044 crores, while Domestic Institutional Investors (DII) bought 2918 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.
If you don’t trust the system while you’re in a trade, you’ll become impatient. Impatience makes you exit too soon – afraid that profits will dissipate – or too late, because you don’t want to take a loss.
For Positional Traders, The Nifty Futures’ Trend Change Level is At 22481 . 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 22345 , Which Acts As An Intraday Trend Change Level.
Nifty Intraday Trading Levels
Buy Above 22450 Tgt 22484, 22527 and 22576 ( Nifty Spot Levels)
Sell Below 22400 Tgt 22375, 22343 and 22312 ( 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.