Bramesh
Foreign Institutional Investors (FIIs) displayed a Bullish approach in the Nifty Index Futures market by Buying 35404 contracts worth ₹2065 crores, resulting in a decrease of 2484contracts in the net open interest. FIIs added 16506 long contracts and covered 32432 short contracts, indicating a preference for adding long positions and covered of short positions. With a net FII long-short ratio of 0.14, FIIs utilized the market fall to enter long positions and exit short positions in Nifty futures. Clients covered 34035 long contracts and added 1783 short contracts.
We have RBI Policy tommrow which should be an NON EVENT with Status Quo, But we are seeing Rise in Bond Yields so RBI Governor statement will be closely watched. Today we ha NEW MOON and tommrow we have Moon Declination, so it would lead to another volatile session tommrow.Nifty has Formed a DOJI on Lunar Cycle date suggesting we can see trend reversal once we break 22630.
Mars Ingress and Bayer Rule 31: The trend changes when Venus in declination reached an extreme beyond 23 degrees 26 minutes 51 seconds. happened today and Nifty has formed a DOJI pattern, Till Nifty Bulls are holding 23200-232250 Bulls have upper hand. Break of 23180 can lead to quick fall towards 23000.
Nifty Trade Plan for Positional Trade ,Bulls will get active above 23290 for a move towards 23366/23442/23517. Bears will get active below 23214 for a move towards 23138/23062
Traders may watch out for potential intraday reversals at 09:15,10:12,11:24,12:41,1:19,02:57 How to Find and Trade Intraday Reversal Times
Nifty June Futures Open Interest Volume stood at 1.25 lakh cr , witnessing a liquidation of 8.5 Lakh contracts. Additionally, the increase in Cost of Carry implies that there was a closeure of LONG positions today.
Nifty Advance Decline Ratio at 30:20 and Nifty Rollover Cost is @22960 closed below it.
Nifty Gann Monthly Trade level :22812 close above it.
Nifty closed above its 20SMA @22655 Trend is Buy on Dips.
Nifty options chain shows that the maximum pain point is at 23250 and the put-call ratio (PCR) is at 1Typically, 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 23300 strike, followed by 23500 strikes. On the put side, the highest OI is at the 23100 strike, followed by 23000 strikes. This suggests that the market participants are expecting Nifty 50 to remain range between 23000-23400 levels.
According To Todays Data, Retailers Have sold 217 K Call Option Contracts And 192 K Call Option Contracts Were Shorted by them. Additionally, They bought 100 K Put Option Contracts And 89 K Put Option Contracts were Shorted by them, Indicating A Bullish Bias.
In Contrast, Foreign Institutional Investors (FIIs) bought 150 K Call Option Contracts And 180 K Call Option Contracts Were Shorted by them. On The Put Side, FIIs sold 17 K Put Option Contracts And 74 K Put Option Contracts were Shorted by them, Suggesting They Have Turned To Neutral Bias.
In the cash segment, Foreign Institutional Investors (FII) bought 2572 crores, while Domestic Institutional Investors (DII) bought 2764 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.
You can’t try to be a disciplined trader. You must be a disciplined person to be a disciplined trader. Trading is a reflection of your personal Life. A Trader cannot become a profitable trader until he becomes a more disciplined person.
For Positional Traders, The Nifty Futures’ Trend Change Level is At 22686. 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 22840, Which Acts As An Intraday Trend Change Level.
Nifty Intraday Trading Levels
Buy Above 23280 Tgt 23320, 23370 and 23424 ( Nifty Spot Levels)
Sell Below 23220 Tgt 23186, 23144 and 23100 (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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