Nifty Hits 20,000: Analyzing Gann Angle and the Next Move After Gap Down

By | July 21, 2023 9:17 am

Foreign Institutional Investors (FIIs) displayed a Bullish approach in the Nifty Index Futures market by Buying 7133  contracts worth 717 crores, resulting in a increase of 15189 contracts in the Net Open Interest. FIIs bought 16306 long contracts and added 5215 short contracts , indicating a preference for adding  LONG and adding SHORT positions .With FII Long Short Ratio @74.4%  and FII Long to Short Ratio at 2.341 FII’s are heavily long in market , FIIs utilized the market rise to ADD Long positions and add short positions in NIFTY Futures.

As Discussed in Last Analysis

Infosys and Reliance Demerger today both indea heavyweight can lead to wild swings in the market so trade cautiously on levels mentioned. Reliance will start trading after 10 AM IST. Nifty is on a one-way move since the 2003 Bull Run. I have not seen a 17% move in Nifty without a cut of 2-2.5% in between. Nifty has not closed 1% down in the last 3 months; the market always surprises. “Bayer Rule 2: The trend goes down within 3 days when the speed difference between Mars and Mercury is 59 minutes, leading to a big move,” will become active. We will open gap down today, with Infosys again playing a villain role for Bulls. As long as we are above 19690 (Gann number) and Rahu Ingress High, Bulls have the advantage.

Nifty Trade Plan  Bulls will get active above 19856 for a move towards 19920/20000. Bears will get active below 19729 for a move towards 19666/19610/19525

Nifty is near a crucial gann number of 19683 last time this number was at 19576 price did not close below this and gave a big rally, Next 2-3 days price action near 19683 is very important able to hold we can see rally towards 19881/20000. Break of 19600 fall towards 19410 in short term. — 20 K done now dips near 19683 should be bought with 55 points sl

Traders may watch out for potential intraday reversals at 9:53,10:35,1:01,1:46,2:40How to Find and Trade Intraday Reversal Times

Nifty July Futures Open Interest Volume stood at 1.07  lakh, witnessing a addition of 2.4 lakh contracts. Additionally, the increase in Cost of Carry implies that there was a covering of LONG positions today.

Nifty Advance Decline Ratio at 36:14  and Nifty Rollover Cost is @18884  and Rollover is at 69.7 %.

Nifty options chain shows that the maximum pain point is at 19950 and the put-call ratio (PCR) is at 1.25. 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 20000 strike, followed by 20100 strikes. On the put side, the highest OI is at the 19700 strike, followed by 19600  strikes. This suggests that the market participants are expecting Nifty 50 to remain range between 19700-20000 levels.

In the cash segment, Foreign Institutional Investors (FII) bought 3370  crores, while Domestic Institutional Investors (DII) sold 193 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 18890-19452-20014 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.Price is near 20014

To make One Good Trade you must prepare properly, work hard, and have patience

For Positional Traders, The Nifty Futures’ Trend Change Level is At 19510 . 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 19893 , Which Acts As An Intraday Trend Change Level.

Intraday Trading Levels

Buy Above 19856  Tgt 19899, 19925  and 19953  (Nifty Spot Levels)

Sell Below 19756 Tgt 19729, 19700 and 19666 (Nifty Spot Levels)

Wishing you good health and trading success as always.As always, prioritize your health and trade with caution.

Category: Daily

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.

2 thoughts on “Nifty Hits 20,000: Analyzing Gann Angle and the Next Move After Gap Down

  1. gangaram

    by neo chart 21 was good fall day…sir is it possible to post daily neo chart or weakly to guides us

    Reply

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