Will the Rally Sustain : Nifty 06 June Trade Plan

By | June 5, 2024 10:44 pm

Foreign Institutional Investors (FIIs) displayed a Bullish  approach in the Nifty Index Futures market by Buying 41188 contracts worth ₹2310 crores, resulting in a decrease of 43488 contracts in the net open interest. FIIs added 22989 long contracts and covered 20783 short contracts, indicating a preference for adding  long positions and covered of short positions. With a net FII long-short ratio of 0.14 , FIIs utilized the market rise to enter long positions and exit short positions in Nifty futures. Clients covered 77554 long contracts and added 9043 short contracts.

As Discuused in Last Analysis

Nifty cracked today based on gann and astro studies as shown in below video. Downside till 21000 is still open till we are below 22300 levels. Tommrow again important astro date  “Bayer Rule 15: VENUS HELIOCENTRIC LATITUDE AT EXTREME AND LEAST SPEEDS FOR MAJOR MOVES Imp Rule” so first 15 mins high and low will guide for the day. 

Nifty showed a good recovery once above 21952, Nifty is showing wild moves due to election newsflow and astro impact of Venus, With Weekly expiry the impact become multi fold. Traders need to trade with less position size with these wild swing Tommrow we hae NEW MOON so another round of voaltile move will be seen, VWAP of last 2 days is 22284-22299 so move on both upside and downside are extended and price need to come back to 22300-22400 range to bring some sanity back in Nifty. Tommrow also watch for 15 mins High and Low to plan the trade.

Nifty Trade Plan for Positional Trade ,Bulls will get active above 22685 for a move towards 22760/22836/22911. Bears will get active below 22534 for a move towards 22459/22385/22256.

Traders may watch out for potential intraday reversals at 09:20,10:20,11:38,12:19,1:10,2:07 How to Find and Trade Intraday Reversal Times

Nifty June Futures Open Interest Volume stood at 1.29 lakh cr , witnessing a liquidation of 16.4 Lakh  contracts. Additionally, the increase in Cost of Carry implies that there was a closure of LONG positions today.

Nifty Advance Decline Ratio at 50:00 and Nifty Rollover Cost is @22960 closed below it.

Nifty Gann Monthly  Trade level :23338 close  below it.

Nifty closed above its 20SMA @22502 Trend is Sell on Rise.

Nifty options chain shows that the maximum pain point is at 22600 and the put-call ratio (PCR) is at 1.11 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 22000 strike, followed by 22300 strikes. On the put side, the highest OI is at the 21800 strike, followed by 21600 strikes. This suggests that the market participants are expecting Nifty 50 to remain range between 21600-22000 levels.

According To Todays Data, Retailers Have sold 106 K Call Option Contracts And 217 K Call Option Contracts Were Shorted by them. Additionally, They bought 311 K Put Option Contracts And 662 K Put Option Contracts were Shorted by them, Indicating A Bullish  Bias.

In Contrast, Foreign Institutional Investors (FIIs) sold 182 K Call Option Contracts And 652 K Call Option Contracts Were Shorted by them. On The Put Side, FIIs sold 70 K Put Option Contracts And 367 K Put Option Contracts were Shorted by them, Suggesting They Have Turned To Neutral Bias.

In the cash segment, Foreign Institutional Investors (FII) sold 5656 crores, while Domestic Institutional Investors (DII) bought 4555 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 21146-21775-22404-23071-23737  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 can’t try to be a disciplined trader. You must be a disciplined person to be a disciplined trader. Trading is a reflection of your personal Life. A Trader cannot become a profitable trader until he becomes a more disciplined person.

For Positional Traders, The Nifty Futures’ Trend Change Level is At 22655. 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 22299, Which Acts As An Intraday Trend Change Level.

Nifty Expiry Range

Upper End of Expiry : 22867

Lower End of Expiry : 22372

Nifty Intraday Trading Levels

Buy Above 22696 Tgt 22770, 22846 and 22921 ( Nifty Spot Levels)

Sell Below 22544  Tgt 22469, 22395 and 22320 (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: Nifty and Lok Sabha Election

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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