Nifty 17 Nov Weekly Expiry Analysis

By | November 16, 2022 9:15 pm

FII bought 18.4 K contract of Index Future worth  1845 cores, Net OI has increased by 6.9 K contract 12.7 K Long contract were added by FII and 5.7 K Shorts were covered by FII. Net FII Long Short ratio at 1.84 so FII used rise to enter long and exit short in Index Futures.

Nifty has finally closed above Jan 2022 high of 18351 now this will become a good support for Nifty,We will see impact of Venus Ingress tommrow first 15 mins High and Low will guide for the day.  Till we do not close below 18263 Bulls have upper hand.

2 Day in a row we have closed above 18351, Nifty is hitting new 52 Week High but Small and Mid Caps Stock have not joined the party, Nifty Small cap index is still down 20% from its all time high, Similar things happened in 2019 also Nifty kept on making new high but broader market was not performing. Its part and parcel of trading but should not be the reason to go short.

Tommrow we have Mercury Ingress and Today we have Venus Ingress Both moving in Sagittarius, As per W D Gann Double ingresses (when two or more planets, not counting the Moon, enter a new sign within two consecutive days) market tend to see big move. Nifty is making Higher High, Always Remmber Market follow path of least resistance Mind and heart will say lets short as Nifty has rallied 2000 points without major correction but till the system do not  give signal aviod shorting else money will be lost. Either wait on sideline or be long till we do not close below previous day low.

Nifty Swing Trade Plan based on Astro Date High and Low is as below. Till we are holding 18305 move towards 18417/18484/18550. Bears will get active below 18263 for a move towards 18196/18128/18060. 18417 done now waiting for 18484/18550

For Swing Traders Bulls will get active above 18305 for a move towards 18417/18484/18550. Bears will get active below 18107 for a move towards 17996/17928/17862, Swing Shorts were not intiated due to gap down, 

Intraday time for reversal can be at 10:12/11:33/12:32/1:42/2:49   How to Find and Trade Intraday Reversal Times

MAX Pain is at 18500 PCR at 0.85  PCR below 0.78 and above 1.3 lead to trending moves, and in between leads to range bound markets.

Maximum Call open interest of 342 lakh contracts was seen at 18500 strike, which will act as a crucial resistance level and Maximum PUT open interest of 4 lakh contracts was seen at 18300 strike, which will act as a crucial Support level

Nifty Nov Future Open Interest Volume is at  1.15 Cr with liquidation of 4.4 Lakh with decrease in cost of carry suggesting Long positions were closed today.

Retailers have bought 347 K CE contracts and 332 K CE contracts were shorted by them on Put Side Retailers bought 292 K PE contracts and 285 K PE shorted contracts were added by them suggesting having NEUTRAL outlook.

FII bought 37.8 K CE contracts and 4.3 K CE were shorted by them, On Put side FII’s bought 41 K PE and 34 K  shorted PE were covered by them suggesting they have a turned to NEUTRAL Bias.

FII’s sold 386 cores and DII’s sold 1437 cores in cash segment.INR closed at 81.21

#NIFTY50  as per musical octave trading path can be 17551-18058-18595  take the side and ride the move !! 2 days in a row closed above 18058

Trading require courage you need to do right thing at right time despite fear and greed puling you in opposite direction.

Positional Traders Trend Change Level is 18170 on Futures go long and short above/below it That will help you stay on the side of Institutions and which has a greater risk-reward ratio. Intraday Traders 18442 will act as a Intraday Trend Change Level.

Intraday Trading Levels

Buy Above 18454 Tgt 18485, 18512 and 18555 (Nifty Spot Levels)

Sell Below 18393 Tgt 18366, 18323 and 18300 (Nifty Spot Levels)

Upper End of Expiry : 18596 

Lower End of Expiry : 18305

As always I wish you maximum health and trading success

Category: Nifty Weekly Expiry

About Bramesh

Bramesh Bhandari has been actively trading the Indian Stock Markets since over 15+ Years. His primary strategies are his interpretations and applications of Gann And Astro Methodologies developed over the past decade.

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