Foreign Institutional Investors (FIIs) displayed a Bullish approach in the Nifty Index Futures market by buying 16057 contracts worth ₹932 crores, resulting in a decrease of 21271 contracts in the net open interest. FIIs added 2654 long contracts and covered 35266 short contracts, indicating a preference for adding long positions and covering short positions. With a net FII long-short ratio of .46, FIIs utilized the market rise to enter long positions and exit short positions in Nifty futures. Clients covered 31974 long contracts and covered 9488 short contracts.
Jupiter in Gemni and “Bayer Rule 2: Trend goes down within 3 days when the speed difference between Mars and Mercury is 59 minutes. Leads to Big Move ” will come into effect today and Nifty is also comleting 120 days from 24 Jan Low so again Gann and Astro cycle are confluencing suggesting we can see big move in coming week.
NIfty made a fresh all time high today but saw profit booking as it touched the gann level as shown in below chart. Price is struggling to cross 3×4 gann angle and formed an Outside bar candel near top which is a reversal signal if we break and close below 22872 today. ON Upside BUlls need to move above 23108 JUpiter Ingress for continuation of upmove. 23071-23108 is important range for Bulls to cross.
Nifty Trade Plan for Positional Trade ,Bulls will get active above 23028 for a move towards 23103/23178 Bears will get active below 22878 for a move towards 22802/22729/22652.
Traders may watch out for potential intraday reversals at 10:09,10:56,12:05,1:27,2:12 How to Find and Trade Intraday Reversal Times
Nifty May Futures Open Interest Volume stood at 1.02 lakh cr , witnessing a addiiton of 5.1 Lakh contracts. Additionally, the increase in Cost of Carry implies that there was a closure of LONG positions today.
Nifty Advance Decline Ratio at 20:30 and Nifty Rollover Cost is @22514 closed above it.
Nifty Gann Monthly Trade level :22320 close above it.
Nifty closed above its 20 SMA @22460 Trend is Buy on Dips.
Nifty options chain shows that the maximum pain point is at 23000 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 23000 strike, followed by 23100 strikes. On the put side, the highest OI is at the 22800 strike, followed by 22700 strikes. This suggests that the market participants are expecting Nifty 50 to remain range between 22800-23100 levels.
According To Todays Data, Retailers Have bought 136 K Call Option Contracts And 112 K Call Option Contracts Were Shorted by them. Additionally, They bought 426 K Put Option Contracts And 397 K Put Option Contracts were Shorted by them, Indicating A Bullish Bias.
In Contrast, Foreign Institutional Investors (FIIs) bought 187 K Call Option Contracts And 324 K Call Option Contracts Were Shorted by them. On The Put Side, FIIs bought 163 K Put Option Contracts And 297 K Put Option Contracts were Shorted by them, Suggesting They Have Turned To Neutral Bias.
In the cash segment, Foreign Institutional Investors (FII) sold 541 crores, while Domestic Institutional Investors (DII) bought 922 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.
P&L is not dictated by our predictions but our trading skill And when you develop trading skills, it does not matter whether you accurately predict the top in a sector. It just matters that that sector is active. As long as it moves.
For Positional Traders, The Nifty Futures’ Trend Change Level is At 22982 . 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 23064 , Which Acts As An Intraday Trend Change Level.
Nifty Intraday Trading Levels
Buy Above 22955 Tgt 22991, 23044 and 23100 ( Nifty Spot Levels)
Sell Below 22900 Tgt 22864, 22830 and 22777 (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.