⚖️ FIIs Maintain Neutral Stance in Nifty Futures – May 21, 2024
Foreign Institutional Investors (FIIs) showed a neutral to slightly bullish bias in the Nifty Index Futures market, buying 158 contracts worth ₹28 crore. However, the session saw a net open interest (OI) decrease of 408 contracts, indicating continued position lightening rather than aggressive buildup.
FII Activity Breakdown:
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✔ Longs Added: 576 contracts
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✔ Shorts Covered: 583 contracts
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Net OI Change: -408 contracts
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FII Long-to-Short Ratio: 0.59
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Current FII Positioning: 37% Long : 63% Short
Interpretation:
FIIs are gradually neutralizing their bearish exposure, but still remain net short. The OI drop implies a wait-and-watch approach, possibly due to upcoming event risks or consolidation at higher levels.
Client Behavior:
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✔ Longs Added: 7,436 contracts
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✔ Shorts Covered: 911 contracts
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Client Long-to-Short Ratio: 1.34
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Current Client Positioning: 57% Long : 43% Short
Interpretation:
Clients continue to build bullish exposure, suggesting that retail and proprietary desks expect further upside, or at least are betting on sustained strength above key supports like 24,500.
NIFTY Options Analysis: Key Levels for May 22, 2025 Weekly Expiry
Nifty has closed precisely at the intersection of two key Gann angles, creating a high-probability price-time confluence zone. Given it’s also weekly expiry, markets are primed for a volatile last-hour move, with strong potential for a bullish breakout if 24,500 is protected.
Key Observations:
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Gann Confluence Zone:
Price is respecting a major intersection of two Gann angles — a classic reversal or acceleration zone. -
Critical Support:
24,500 → Holding this intraday pivot keeps bullish momentum intact. -
Upside Targets:
24,777 – 24,850 → Watch for fast moves into this zone if 24,500 holds through expiry. -
Breadth Improving:
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Mid & Small Caps showing recovery
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IT Index is offering leadership support
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Nifty is trading well above its 200-DMA, adding to technical strength
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Institutional Flow Support:
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✅ FII and DII net buyers in the cash market — providing additional confidence for positional traders and expiry bulls.
Trading Strategy:
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Dips toward 24,389 (previous Gann level) are likely to be bought aggressively.
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Intraday traders should watch 24,500 as the make-or-break line — it could trigger short covering and fresh buying into the closing bell.
Nifty has formed a classic Inside Bar pattern, signaling indecision and consolidation—but also laying the groundwork for a potential breakout. What makes this setup significant is the confluence of both Gann and astrological time cycles, indicating that the market is at a critical inflection point.
️ Today also marks the weekly expiry, which often acts as a volatility trigger when combined with technical and time-based patterns.
⚠️ What to Watch For:
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Breakout Levels:
Upside Trigger: Above 24950
Breakdown Trigger: Below 24650
A break on either side could lead to a sharp directional move in the next 1–2 sessions. -
Time Cycle Relevance:
The ongoing astro-Gann alignment strengthens the case for a trending move. These cycles are known to initiate strong price reactions especially when technical compression (like an Inside Bar) is in play.
Trading Strategy:
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Avoid aggressive positions until the range breaks.
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Use first 15-minute high/low today to gauge intraday momentum.
Nifty Trade Plan for Positional Trade ,Bulls will get active above 24950 for a move towards 25076/25207 Bears will get active below 24650 for a move towards 24554/24424
Traders may watch out for potential intraday reversals at 09:31,11:45,12:28,02:30 How to Find and Trade Intraday Reversal Times
Nifty May Futures Open Interest Volume stood at 1.07 lakh cr , witnessing liquidation of 3.9 Lakh contracts. Additionally, the increase in Cost of Carry implies that there was closeure of LONG positions today.
Nifty Advance Decline Ratio at 19:31 and Nifty Rollover Cost is @24321 closed above it.
Nifty Gann Monthly Trade level :24211 closed above it
Nifty has closed Above its 200 SMA @ 24509 Trend is Buy on Dips till above 24509
Nifty options chain shows that the maximum pain point is at 24800 and the put-call ratio (PCR) is at 0.64.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 24800 strike, followed by 25000 strikes. On the put side, the highest OI is at the 24400 strike, followed by 24300 strikes. This suggests that the market participants are expecting Nifty 50 to remain range between 24500-24900 levels.
Options Market Activity – May 21, 2024
Retail Participant Behavior:
Call Options:
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Covered: 115K contracts
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Shorted: 73.9K contracts
Put Options:
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Added: 177K contracts
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Added: 269K contracts
Interpretation:
Retail traders are reducing call exposure and adding puts, indicating a mildly defensive or cautious sentiment, possibly expecting range-bound or downside action after the recent rally.
FII Options Activity:
Call Options:
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Covered: 19.8K contracts
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Covered: 127K contracts
Put Options:
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Added: 177K contracts
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Shorted: 269K contracts
Interpretation:
FIIs are heavily unwinding call positions, suggesting reduced bullish bets. At the same time, they are building put exposure but also shorting puts, implying a neutral to slightly bullish bias—possibly expecting consolidation rather than a sharp directional move.
Overall Sentiment Snapshot:
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Retail: Leaning bearish via put buildup and call unwinding
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FIIs: Mixed — cautious but not aggressively bearish; expecting range-bound action with some protection in place
In the cash segment, Foreign Institutional Investors (FII) bought 2201 Cr , while Domestic Institutional Investors (DII) bought 683 cr.
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 23037-23722-24408-25134 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.
Those who succeed big at anything all have the same attitude: You keep going until it happens or you die trying. Quitting is not an option.
For Positional Traders, The Nifty Futures’ Trend Change Level is At 24593. 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 24859, Which Acts As An Intraday Trend Change Level.
Nifty Expiry Range
Upper End of Expiry : 25041
Lower End of Expiry : 24585
Nifty Intraday Trading Levels
Buy Above 24824 Tgt 24860, 24900 and 24944 ( Nifty Spot Levels)
Sell Below 24777 Tgt 24729, 24685 and 24630 (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.
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