Finance Nifty is approching its 1×1 gann angle and the price action of lower low has stopped today, but Finance Nifty is getting lot of Supply from upper side as seen in last 4 trading session price opens up see upmove in first session and gets sold off into 2 session, suggesting we are seeing Distribution on upper levels. Price is doing more of time correction rather than price correction. Momemtum will come on downside once we see a close below 20 SMA.
Sun Sextile Uranus and Venus YOD Neptune Aspect imvolving Outer Plannets are happening on Weekend so next week we can see range expansion.
Finance Nifty Trade Plan Based Bulls will get active above 20146 for a move towards 20290/20433/20577. Bears will get active below 20003 for a move towards 19860/19716/19573
Traders may watch out for potential intraday reversals at 9:44,11:03,1:25,2:54 How to Find and Trade Intraday Reversal Times
Finance Nifty June Futures Open Interest Volume stood at 90720 liquidation of 480 contracts. Additionally, the decrease in Cost of Carry implies that there was a closing of LONG positions today.
Finance Nifty Advance Decline Ratio at 11:8
Finance Nifty Support is at 20 SMA @19843
Traders who follow the musical octave trading path may find valuable insights in predicting Bank Nifty’s movements. According to this path, Finance Nifty may follow a path of 20529-19953-19376 . This means that traders can take a position and potentially ride the move as Bank 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. Price is near 19953
According to the Finance Nifty options chain, the call side has the highest open interest (OI) at the 20200 strike, followed by the 20400 strike. On the put side, the 19900 strike has the highest OI, followed by the 19700 strike. This indicates that market participants anticipate Bank Nifty to stay within the 20200-20000 range.
The FinanceNifty options chain shows that the maximum pain point is at 20050 and the put-call ratio (PCR) is at 1 . Typically, when the PCR open interest ranges between 0.90 and 1.05, the market tends to remain range-bound. PCR is on extreme end suggesting we can see sharp reversal .
With every trade I imagine that this will be my worst trade ever. And I think about it beforehand, how much of my money I want to lose with it
For Positional Traders, The Finance Nifty Futures’ Trend Change Level is At 20155 . 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 20117 , Which Acts As An Intraday Trend Change Level.