Foreign Institutional Investors (FIIs) displayed a Bullish approach in the Nifty Index Futures market by Buying 26954 contracts worth ₹1576 crores, resulting in a increase of 14936 contracts in the net open interest. FIIs added 21233 long contracts and covered 24493 short contracts, indicating a preference for adding long positions and covered of short positions. With a net FII long-short ratio of 0.20 , FIIs utilized the market rise to enter long positions and exit short positions in Nifty futures. Clients coverd 2128 long contracts and added 19956 short contracts.
Nifty had formed 2 DOJI in last 2 trading session, and price is back to gann 3×4 gann angle support, and unable to close above Mars Ingress High. US FOMC and CPI data will come tommrow and THursday we will see gap opening so carry EOD positions with Hedge. Tommrow we have Mercury Square Saturn Aspect which can lead to Voaltile move like today due to Saturn Imapct. Bears need to close below 23170 for a shap decline towards 23000.
3 DOJI in a row in Nifty and NIfty Unable to close above Mars Ingress High, US and India Inflation came down and US Fed will give decision today, Mercury at Perihelion is happening tommorw so we should see a Trending move in next 2 trading session as Mercury has the most impact on Nifty. First 15 mins High and Low will guide for the day for intraday traders.
Nifty Trade Plan for Positional Trade ,Bulls will get active above 23366 for a move towards 23442/23517. Bears will get active below 23295 for a move towards 23214/23138/23062
Traders may watch out for potential intraday reversals at 09:15,11:18,11:53,12:37,1:11,02:54 How to Find and Trade Intraday Reversal Times
Nifty June Futures Open Interest Volume stood at 1.23 lakh cr , witnessing a addition of 0.95 Lakh contracts. Additionally, the increase in Cost of Carry implies that there was a addition of LONG positions today.
Nifty Advance Decline Ratio at 36:14 and Nifty Rollover Cost is @22960 closed above it.
Nifty Gann Monthly Trade level :22812 close above it.
Nifty closed above its 20SMA @22768 Trend is Buy on Dips.
Nifty options chain shows that the maximum pain point is at 23350 and the put-call ratio (PCR) is at 1.2 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 23300 strike, followed by 23500 strikes. On the put side, the highest OI is at the 23100 strike, followed by 23000 strikes. This suggests that the market participants are expecting Nifty 50 to remain range between 23000-23400 levels.
According To Todays Data, Retailers Have sold 175 K Call Option Contracts And 142 K Call Option Contracts Were Shorted by them. Additionally, They sold 107 K Put Option Contracts And 924 K Put Option Contracts were Shorted by them, Indicating A Bullish Bias.
In Contrast, Foreign Institutional Investors (FIIs) sold 58 K Call Option Contracts And 22.1 K Call Option Contracts Were Shorted by them. On The Put Side, FIIs bought 74 K Put Option Contracts And 84 K Put Option Contracts were Shorted by them, Suggesting They Have Turned To Neutral Bias.
In the cash segment, Foreign Institutional Investors (FII) bought 426 crores, while Domestic Institutional Investors (DII) bought 233 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 22932 . 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 23395, Which Acts As An Intraday Trend Change Level.
Nifty Expiry Range
Upper End of Expiry : 22538
Lower End of Expiry : 22193
Nifty Intraday Trading Levels
Buy Above 23366 Tgt 23400, 23444 and 23484 ( Nifty Spot Levels)
Sell Below 23300 Tgt 23256, 23212 and 23166 (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.