Foreign Institutional Investors (FIIs) displayed a Bearish approach in the Nifty Index Futures market by Shorting 10184 contracts worth ₹642 crores, resulting in a decrease of 8156 contracts in the net open interest. FIIs covered 7040 long contracts and covered 7150 short contracts, indicating a preference for covering long positions and covering short positions. With a net FII long-short ratio of 0.76, FIIs utilized the market fall to exit long positions and exit short positions in Nifty futures. Clients covered 11867 long contracts and covered 13870 short contracts. FII are holding 35 % Long and 65 % Shorts in Index Futures and Clients are holding 62 % Long and 38 % Shorts in Index Futures.
Nifty saw a decline and faced selling pressure at higher levels, but it failed to close below 24,947, which is the Jupiter Retrograde low. The price has bounced back to the Gann angle support again, as shown in the chart below, forming what appears to be a double bottom. On Monday, Mercury is changing houses, indicating that we may witness an explosive move within the next two trading sessions.
The bulls have been unable to close above the 50/100 SMA and are facing resistance at 25,192. All higher levels are getting sold into, signaling a classic case of bottom formation. Additionally, the price has formed a DOJI after an inside bar on Thursday, suggesting that the market is primed for an explosive move. FII net longs are down to 36%, and the much-anticipated China economic package announced today fell below market expectations, delivering only 10 billion RMB.
Reliance results will be released on the evening of the 14th, and with its stock currently in the oversold region, any positive surprises could trigger a rally in Reliance, which will likely have a significant impact on Nifty. However, any close below the 24,930-24,950 range could lead to a quick decline towards the recent swing low of 24,700.
RIL posted better numbers compared to the last quarter. If you dig deeper into the figures, the year-on-year decline was largely due to their extra expenses related to GRM provisions and Jio expansion royalty one-time payments. For Nifty Bulls, it is crucial to close above 25,235 (RBI Day and Jupiter Declination High). Once this level is breached, we can expect a quick rally towards 25,448.
Both Mercury Ingress and Sun Square Mars are key astro events today. A close above 25,160 would provide an early indication of a potential breakout of 25,235 and further upward momentum.
Nifty Trade Plan for Positional Trade ,Bulls will get active above 25165 for a move towards 25244/25322. Bears will get active below 24992 for a move towards 24930/24851/24772/24694
Traders may watch out for potential intraday reversals at 09:47,10:58,11:48,12:57,02:34 How to Find and Trade Intraday Reversal Times
Nifty Sep Futures Open Interest Volume stood at 1.34 lakh cr , witnessing a liquidation of 3.2 Lakh contracts. Additionally, the increase in Cost of Carry implies that there was a closure of SHORT positions today.
Nifty Advance Decline Ratio at 35:15 and Nifty Rollover Cost is @25178 closed below it.
Nifty Gann Monthly Trade level :25192 close below it.
Nifty closed above its 50SMA @25032 Trend is Buy on Dips till above 25085
Nifty options chain shows that the maximum pain point is at 25000 and the put-call ratio (PCR) is at 1.02 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 25200 strike, followed by 25300 strikes. On the put side, the highest OI is at the 25100 strike, followed by 25000 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 3731 crores, while Domestic Institutional Investors (DII) bought 2278 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.
The first losses leave the deepest traces. Over time, however, you get used to it and the subsequent losses are no longer perceived with the same intensity, no matter how great they may be. The trader feels indifferent: “Oh, it doesn’t matter whether I lose the money or not!”
For Positional Traders, The Nifty Futures’ Trend Change Level is At 25533 . 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 25204, Which Acts As An Intraday Trend Change Level.
Nifty Intraday Trading Levels
Buy Above 25150 Tgt 25175, 25200 and 25225 ( Nifty Spot Levels)
Sell Below 25100 Tgt 25075, 25050 and 25010 (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.