Foreign Institutional Investors (FIIs) displayed a Bearish approach in the Nifty Index Futures market by Shorting 18739 contracts worth ₹1444 crores, resulting in a increase of 17809 contracts in the net open interest. FIIs covered 30476 long contracts and ADDED 23238 short contracts, indicating a preference for covering long positions and adding short positions. With a net FII long-short ratio of 1.9 , FIIs utilized the market fall to exit long positions and enter short positions in Nifty futures. Clients added 28181 long contracts and covered 4554 short contracts. FII are holding 38 % Long and 62 % Shorts in Index Futures and Clients are holding 61 % Long and 39 % Shorts in Index Futures.
Nifty found support at the Gann angle, and the Jupiter cycle showed its impact as the price did not break the first 15 minutes low, leading to a volatile session. With crude down 5% overnight, this could be positive for Nifty. Tomorrow, the RBI Policy begins during Jupiter’s retrograde , which could result in a surprise policy affecting Nifty.
Intraday traders should watch the first 15 minutes’ high and low to capture the day’s trend. As long as 24759 is held and the price remains above the 50 SMA, we could see sharp short covering towards 25200/25459.
25,200 was achieved today with a high of 25,234, but the bulls failed to close above the 50 SMA at 25,025. The RBI Policy acted as a trigger for the bulls, sparking a rally. However, as is common on event days, the main move often comes the next day, likely due to the Bank Nifty expiry, during which many positions were adjusted, preventing the real move from materializing.
Now, bulls need to hold the 24,950 range and push above the 25,192 Gann Monthly TC level to trigger short covering toward the 25,485-25,500 range.
Keep an eye on Venus YOD Jupiter aspect, as it could lead to surprises on the upside for Tata Motors and HDFC Bank.
Nifty Trade Plan for Positional Trade ,Bulls will get active above 25087 for a move towards 25165/25244/25322. Bears will get active below 24930 for a move towards 24851/24772/24694
Traders may watch out for potential intraday reversals at 09:28,10:07,11:18,12:54,01:20,02:29 How to Find and Trade Intraday Reversal Times
Nifty Sep Futures Open Interest Volume stood at 1.38 lakh cr , witnessing a liquidation of 1.8 Lakh contracts. Additionally, the increase in Cost of Carry implies that there was a closure of SHORT positions today.
Nifty Advance Decline Ratio at 27:23 and Nifty Rollover Cost is @25178 closed below it.
Nifty Gann Monthly Trade level :25192 close below it.
Nifty closed below its 50SMA @25028 Trend is Sell on Rise till below 25028
Nifty options chain shows that the maximum pain point is at 25000 and the put-call ratio (PCR) is at 1.01 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 25100 strike, followed by 25200 strikes. On the put side, the highest OI is at the 25000 strike, followed by 24900 strikes. This suggests that the market participants are expecting Nifty 50 to remain range between 25000-25200 levels.
In the cash segment, Foreign Institutional Investors (FII) sold 4562 crores, while Domestic Institutional Investors (DII) bought 3508 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 24600-25310-26063-26816 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.
To learn behaviour like this and to repeat it continuously without mistakes until your brain has internalized this new knowledge in such a way that it is constantly available and is available. Like brushing your teeth every day or climbing stairs. In the Psychology calls this ability “unconscious competence”.
For Positional Traders, The Nifty Futures’ Trend Change Level is At 25662. 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 25211, Which Acts As An Intraday Trend Change Level.
Upper End of Expiry : 25325
Lower End of Expiry : 24864
Nifty Intraday Trading Levels
Buy Above 25055 Tgt 25090, 25130 and 25190 ( Nifty Spot Levels)
Sell Below 25000 Tgt 24955, 24910 and 24864 (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.