Nifty Soars 250+ Points: Astrology Proves its Impact on Market Trends

By | March 4, 2023 5:11 pm

Foreign Institutional Investors (FII) showed a bullish approach in the Index Futures market by buying 42.2K contracts worth 3938 crores, resulting in a decrease of 20K contracts in the Net Open Interest. FII bought 11.1K long contracts and covered 31.1K short contracts, indicating a preference for long positions. With a Net FII Long Short ratio of 0.30, FII used the market rise to enter long and exit short positions in Index Futures.

As Discussed in Last Analysis Nifty is back to gann 1×1 angle today being Venus Conjuct Jupiter Aspect and Mercury Ingress, Venus and Mercury has a major Impact on Nifty. India’s Adani group gets $1.87 bln investment from U.S. firm GQG Trading has been diffcult for swing traders with YO YO move coming in Nifty but tommrow as we have weekly closing Bulls would like to close above 17428-17444 range.
The combination of Gann Price Time Squaring with the Astro Venus Conjuct Jupiter Aspect proved to be a powerful force for the Bulls, leading to a significant rally in Nifty. Watch our discussion of this phenomenon in the below video.
Swing traders can expect a potential move towards 17649, 1718, or 17780 if the market trades above 17583. However, if the market falls below 17517 , bears may become more active, leading to a move towards 17452,17386,17320.

Traders may watch out for potential intraday reversals at 10:08, 12:04, 1:35, and 2:40. How to Find and Trade Intraday Reversal Times
Nifty March Futures Open Interest Volume stood at 19.4 lakh, witnessing a liquidation of 9.8 lakh contracts. Additionally, the decrease in Cost of Carry implies that there was a closure of short positions today.
Nifty options chain shows that the maximum pain point is at 17600 and the put-call ratio (PCR) is at 0.84. Typically, when the PCR open interest ranges between 0.90 and 1.05, the market tends to remain range-bound. This suggests that Nifty may trade within a range of 17500-17800 levels in the near term
Nifty Rollover cost @17844 and 67.6 % rollover is done.
Nifty 50 Options Chain Analysis
The Nifty 50 options chain indicates that the highest open interest (OI) on the call side is at the 17,800 strike, followed by 17,900 strikes. On the put side, the highest OI is at the 17500 strike, followed by 17400 strikes. This suggests that the market participants are expecting Nifty 50 to remain range between 17400-17800 levels.
In the cash segment, Foreign Institutional Investors (FII) bought 246 crores, while Domestic Institutional Investors (DII) bought 2089 crores.
According to the musical octave trading path, Nifty may follow the path of 17804-17538-17274, so traders should take a position and ride the move.

“To be a successful trader, you have to be able to admit mistakes. People who are very bright don’t make very many mistakes. They don’t make very much money.” – William O’Neil
For Positional Traders, The Bank Nifty Futures’ Trend Change Level is At 17528 . 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 17625, Which Acts As An Intraday Trend Change Level.
Intraday Trading Levels
Buy Above 17666 Tgt 17699, 17729 and 17777 (Nifty Spot Levels)
Sell Below 17636 Tgt 17606, 17574 and 17523 (Nifty Spot Levels)
Wishing you good health and trading success as always.As always, prioritize your health and trade with caution.

Category: Nifty50

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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