Foreign Institutional Investors (FIIs) displayed a Bullish approach in the Nifty Index Futures market by Buying 14437 contracts worth ₹894 crores, resulting in a increase of 17201 contracts in the net open interest. FIIs covered 2896 long contracts and added 40162 short contracts, indicating a preference for covering long positions and adding of short positions. With a net FII long-short ratio of 4.1 , FIIs utilized the market fall to exit long positions and enter short positions in Nifty futures. Clients added 60383 long contracts and covered 4683 short contracts.
Nifty saw a decline today after the government increased the STCG and LTCG tax. However, the Gann and Astro cycles predicted this, as discussed in the video below. If 24,650 is not crossed tomorrow, we could see a decline back to 24,100-24,070. Money might start moving from the stock market towards the real economy, and we will begin to see liquidity flows reducing into the equity market.
Tomorrow we will have Mercury Ingress. Mercury, being the nearest planet to the Sun, has a major impact on Nifty and Reliance. Additionally, with the Moon being the nearest to Earth, we will see a significant impact on Nifty. The Moon, being the planet of emotions, will cause volatile movements. We can expect an explosive move in Nifty; watch for the first 15 minutes’ high and low to capture the trend for the day
Nifty Trade Plan for Positional Trade ,Bulls will get active above 24438 for a move towards 24516/24595. Bears will get active below 24360 for a move towards 24281/24203/24124.
Traders may watch out for potential intraday reversals at 9:15,9:57,11:12,01:55,02:36 How to Find and Trade Intraday Reversal Times
Nifty June Futures Open Interest Volume stood at 0.93 lakh cr , witnessing a liquidation of 23 Lakh contracts. Additionally, the increase in Cost of Carry implies that there was a covering of LONG positions today.
Nifty Advance Decline Ratio at 19:31 and Nifty Rollover Cost is @23839 closed above it.
Nifty Gann Monthly Trade level :24270 close above it.
Nifty closed above its 20SMA @24316 Trend is Buy on Dips.
Nifty options chain shows that the maximum pain point is at 24400 and the put-call ratio (PCR) is at 0.85 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 24500 strike, followed by 24600 strikes. On the put side, the highest OI is at the 24300 strike, followed by 24200 strikes. This suggests that the market participants are expecting Nifty 50 to remain range between 24200-24700 levels.
In the cash segment, Foreign Institutional Investors (FII) sold 5130 crores, while Domestic Institutional Investors (DII) bought 3137 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 23889-24600-25310 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.
Trader make Error because of expectation, Our Mind think because pattern has emerged its giving us an EDGE on that particular trade and we have no way of knowing it but over a series of trade it will show the effect.
For Positional Traders, The Nifty Futures’ Trend Change Level is At 24391. 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 24373, Which Acts As An Intraday Trend Change Level.
Nifty Expiry Range
Upper End of Expiry : 24553
Lower End of Expiry : 24200
Nifty Intraday Trading Levels
Buy Above 24340 Tgt 24385, 24420 and 24553 ( Nifty Spot Levels)
Sell Below 24296 Tgt 24266, 24230 and 24200 (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.