Bramesh
Foreign Institutional Investors (FIIs) displayed a Bullish approach in the Nifty Index Futures market by Buying 23538 contracts worth ₹1372 crores, resulting in a increase of 13088 contracts in the net open interest. FIIs added 15448 long contracts and covered 2692 short contracts, indicating a preference for adding long positions and covered of short positions. With a net FII long-short ratio of 0.21 , FIIs utilized the market fall to enter long positions and exit short positions in Nifty futures. Clients added 4184 long contracts and added 10535 short contracts.
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 had formed 2 DOJI in last 2 trading session, and price is back to gann 3×4 gann angle support, and unable to close above Mars Ingress High. US FOMC and CPI data will come tommrow and THursday we will see gap opening so carry EOD positions with Hedge. Tommrow we have Mercury Square Saturn Aspect which can lead to Voaltile move like today due to Saturn Imapct. Bears need to close below 23170 for a shap decline 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 09:15,11:04,12:05,1:15,02:55 How to Find and Trade Intraday Reversal Times
Nifty June Futures Open Interest Volume stood at 1.22 lakh cr , witnessing a liquidation of 2 Lakh contracts. Additionally, the increase in Cost of Carry implies that there was a closeure of LONG positions today.
Nifty Advance Decline Ratio at 21:29 and Nifty Rollover Cost is @22960 closed below it.
Nifty Gann Monthly Trade level :22812 close above it.
Nifty closed above its 20SMA @22713 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 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 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 bought 324 K Call Option Contracts And 372 K Call Option Contracts Were Shorted by them. Additionally, They bought 102 K Put Option Contracts And 840 K Put Option Contracts were Shorted by them, Indicating A Bullish Bias.
In Contrast, Foreign Institutional Investors (FIIs) bought 12.6 K Call Option Contracts And 19.8 K Call Option Contracts Were Shorted by them. On The Put Side, FIIs sold 2 K Put Option Contracts And 87 K Put Option Contracts were Shorted by them, Suggesting They Have Turned To Neutral Bias.
In the cash segment, Foreign Institutional Investors (FII) sold 111 crores, while Domestic Institutional Investors (DII) bought 3193 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 22881. 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 23337, 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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