Foreign Institutional Investors (FIIs) displayed a Bearish approach in the Nifty Index Futures market by shorting 22303 contracts worth 1251 crores, resulting in a decrease of 2671 contracts in the Net Open Interest. FIIs sold 11981 long contracts and 17699 short contracts were added by them , indicating a preference for exiting LONG and adding SHORT positions .With a Net FII Long Short ratio of 1.08 FIIs utilized the market fall to wxit Long positions and enter short positions in NIFTY Futures. Clients have added 11272 long and 19125 Shorts were covered by them.
The US Fed kept rates unchanged. Nifty formed a DOuble top after hitting a fresh all-time high at 22783. As long as the price remains above 22527 , bulls have the upper hand. The last 1-hour decline was more due to the Double top at 22675 and trading holiday on May 1st. Today, Pluto is going retrograde, which may cause volatility, Keep an eye on Pharma Stocks. The highs and lows of the first 15 minutes will guide us in another volatile session today.
Nifty has closed below 22443 @20 SMA and took support at 50 SMA @ 22300 and tommrow we have below Astro Events, suggesting first 15 mins High and Low will Guide for the day.
Bayer Rule 7: There are changes on market when Venus or Mars goes over its Aphelium Perihelium (Geocentric) and NEW MOON
Mars is plannet of POWER so it will add fire to move tommrow.Price continue to trade below 3×4 gann angle.
Nifty Trade Plan for Positional Trade ,Bulls will get active above 22417 for a move towards 22492/22568. Bears will get active below 22266 for a move towards 22190/22088
Traders may watch out for potential intraday reversals at 09:53,12:38,1:04,2:40How to Find and Trade Intraday Reversal Times
Nifty April Futures Open Interest Volume stood at 1.06 lakh cr , witnessing a addition of 4.5 Lakh contracts. Additionally, the increase in Cost of Carry implies that there was a closeure of LONG positions today.
Nifty Advance Decline Ratio at 15:35 and Nifty Rollover Cost is @22514 closed below it.
Nifty Gann Monthly Trade level :22587 close below it.
Nifty closed below its 20 /50 SMA, Trend is Sell on Rise till above 22527 .
Nifty options chain shows that the maximum pain point is at 22300 and the put-call ratio (PCR) is at 0.89. 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 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 143 K Call Option Contracts And 109 K Call Option Contracts Were Shorted by them. Additionally, They sold 99 K Put Option Contracts And 53.9 K Put Option Contracts were Shorted by them, Indicating A Bullish Bias.
In Contrast, Foreign Institutional Investors (FIIs) bought 257 K Call Option Contracts And 285 K Call Option Contracts Were Shorted by them. On The Put Side, FIIs bought 213 K Put Option Contracts And 113 K Put Option Contracts were Shorted by them, Suggesting They Have Turned To Bearish Bias.
In the cash segment, Foreign Institutional Investors (FII) sold 3668 crores, while Domestic Institutional Investors (DII) bought 2304 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.
Some trades are meant to go for the gold, while others are meant to go for golden nuggets. The more nuggets you collect, the bigger your pot of gold.
For Positional Traders, The Nifty Futures’ Trend Change Level is At 22634. 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 22410, Which Acts As An Intraday Trend Change Level.
Nifty Intraday Trading Levels
Buy Above 22323 Tgt 22366, 22399 and 22424 ( Nifty Spot Levels)
Sell Below 22285 Tgt 22243, 22108 and 22050 ( 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.