Foreign Institutional Investors (FIIs) displayed a Bullish approach in the Nifty Index Futures market by Buying 28419 contracts worth ₹1707 crores, resulting in a increase of 36283 contracts in the net open interest. FIIs added 22614 long contracts and covered 39341 short contracts, indicating a preference for adding long positions and covering of short positions. With a net FII long-short ratio of 1.31, FIIs utilized the market rise to enter long positions and exit short positions in Nifty futures. Clients covered 25716 long contracts and covered 923 short contracts.
As Discuused in Last Analysis
Nifty made a fresh all time high today once the high of Monday was taken out, which was very important astro date. Tommrow we have Bayer Rule 20: Moves are when Mercury passes 17 degrees 18 minutes 27 seconds of Cancer in Geocentric and important gann embelem and dynamic dates as explained in below video so first 15 mins High and Low will guide for the day.
Nifty continue to trade above 3×4 gann angle resistance zone, price took support at 23679 and rallied for a fresh all time high. Tommrow Moon will be at Perigee and Moon Opposition Saturn which can add intraday voaltlity. Till 23679 is held Bulls will have upper hand. Price is making all time high but we are seeing declining shares more than advancing shares suggesting rally is getting smaller and moves are due to expiry moves.
Nifty Trade Plan for Positional Trade ,Bulls will get active above 23869 for a move towards 23945/24022. Bears will get active below 23792 for a move towards 23715/23638/23562.
Traders may watch out for potential intraday reversals at 10:36,11:06,12:40,01:38,02:33 How to Find and Trade Intraday Reversal Times
Nifty June Futures Open Interest Volume stood at 0.66 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 25:25 and Nifty Rollover Cost is @22960 closed above it.
Nifty Gann Monthly Trade level :22812 close above it.
Nifty closed above its 20SMA @23179 Trend is Buy on Dips.
Nifty options chain shows that the maximum pain point is at 23800 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 23900 strike, followed by 24000 strikes. On the put side, the highest OI is at the 23800 strike, followed by 23700 strikes. This suggests that the market participants are expecting Nifty 50 to remain range between 23700-24000 levels.
According To Todays Data, Retailers Have sold 537 K Call Option Contracts And 606 K Call Option Contracts Were Shorted by them. Additionally, They sold 211 K Put Option Contracts And 192 K Put Option Contracts were Shorted by them, Indicating A Neutral Bias.
In Contrast, Foreign Institutional Investors (FIIs) sold 30 K Call Option Contracts And 26.7 K Call Option Contracts Were Shorted by them. Additionally, They bought 336 K Put Option Contracts And 253 K Put Option Contracts were Shorted by them, Indicating A Bearish Bias.
In the cash segment, Foreign Institutional Investors (FII) bought 3535 crores, while Domestic Institutional Investors (DII) bought 5103 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.
If a trader is confused about what he is doing, the probable win ratio is zero and he might as well give up trading.
For Positional Traders, The Nifty Futures’ Trend Change Level is At 23729. 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 23806, Which Acts As An Intraday Trend Change Level.
Nifty Expiry Range
Upper End of Expiry : 24043
Lower End of Expiry : 23692
Nifty Intraday Trading Levels
Buy Above 23888 Tgt 23927, 23963 and 24001 ( Nifty Spot Levels)
Sell Below 23836 Tgt 23800, 23763 and 23729 (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.
