Nifty Prediction for Monday 27 February 2023

FII sold 2.9 K contract of Index Future worth 260 cores, Net OI has decreased by 2.4 K contract 2.6 K Long contract were covered by FII and 219 Shorts were added by FII. Net FII Long Short ratio at 0.22 so FII used fall to exit Long and enter short in Index Futures.

Nifty opened with gap up 15 mins low broken and fall started. It has been 7 days of decline but we are still in Budget day candel High and low. Price continue to trade around Jan Low f 17405 but need a close above previous day high for any kind of reversal.

As Lord Hanuman Himself had doubts and had to be reminded of his strength regularly, we mortals need to follow a “affirmation routine” on a regular basis and pep ourselves up.
The secret lies in keeping our emotions under wraps and acting professionally by increasing our consciousness levels. This is possible only if we do not allow ourselves to get carried away by news and sundries. “Water on a lotus leaf”(Non-attachment) – the one major thing I learnt in “Vivekananda Vidyalaya”.

Swing Trader above 17505 can see move towards 17572/17639/17705. Bears will get active below 17439 for a move towards 17372/17305/17239

Intraday time for reversal can be at 9:15/10:36/11:54/12:36/1:37/2:39 How to Find and Trade Intraday Reversal Times

MAX Pain is at 17550 PCR at 0.92 Markets tend be range-bound when PCR OI (Open Interest) ranges between 0.90 and 1.05.

Retailers have bought 162 K CE contracts and 149 K CE contracts were shorted by them on Put Side Retailers bought 76 K PE contracts and 77 K PE shorted contracts were added by them suggesting having BULLISH outlook.

FII bought 87 K CE contracts and 103 K CE were shorted by them, On Put side FII’s bought 67.6 K PE and 85.4 K PE were shorted by them suggesting they have a turned to neutral Bias.

Nifty Rollover cost @17844 and 67.6 % rollover is done.

Maximum Call open interest of 26 lakh contracts was seen at 17700 strike, which will act as a crucial resistance level and Maximum PUT open interest of 23 lakh contracts was seen at 17300 strike, which will act as a crucial Support level

FII’s sold 1470 cores and DII’s bought 1400 cores in cash segment.INR closed at 82.60

#NIFTY50 as per musical octave trading path can be 17804-17538-17274 take the side and ride the move !!

One of the tactics of avoiding fear is to conduct due diligence before entering a trade by doing your analysis. Once that is done, let the trade run to maturity. Walk away from it if necessary and avoid watching EVERY TICK

Positional Traders Trend Change Level is 17622 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 17592 will act as a Intraday Trend Change Level.