Nifty Trade setup for 04 Aug

By | August 4, 2023 12:53 am

Analysis of FIIs’ behavior in the Nifty Index Futures market shows a Bearish approach as they displayed a preference for Short positions. On a net basis, FIIs went short 33335  contracts worth 3247 crores, resulting in an increase of 12113 contracts in the Net Open Interest. Additionally, they sold 7613 long contracts and added  28665 short contracts, indicating a strategy of closing long positions and adding short positions.

As Discussed in Last Analysis

We got the big move as gann and astro time confluenced as discussed in below video, Price has broken 1×1 Gann Angle and heading towards 4×3 angle around 19025-19050.  Gann 90 days cycle and Mars Trine Jupiter Aspect again helped in capturing the big move as explained in below video.

Nifty broken 1×1 Gann Angle on 01 Aug and now heading towards 4×3 Gann angle, Price has closed below 50 SMA. 19151-19115 is important support zone once we close below 19300 on 15 mins we should visit these levels. SBI results tommorow so NIfty will trade voaltile.

Aug 06-07 Aug we have 2 important Bayers Date coming so carry overnight position specially short with hedge.

Bayer Rule 6: The price is in bottom when Mars was in 16 degrees 35 minutes of some sign and plus 30 degrees.

Bayer Rule 7: There are changes on market when Venus or Mars goes over its Aphelium Perihelium (Geocentric).

Nifty Bulls need to protect 19319 which is Octave point , Break of 19300 fall towards 19151

Traders may watch out for potential intraday reversals at 9:39,12:58,1:38,2:45  How to Find and Trade Intraday Reversal Times

Nifty July Futures Open Interest Volume stood at 1.09  lakh, witnessing a addition of  5.6 lakh contracts. Additionally, the increase in Cost of Carry implies that there was a addition of SHORT positions today.

Nifty Advance Decline Ratio at 11:39  and Nifty Rollover Cost is @19860   and Rollover is at 73.9 %.

Nifty  has broken its 20 SMA support and heading towards 50 SMA @19115 

Nifty options chain shows that the maximum pain point is at 19400 and the put-call ratio (PCR) is at 0.80. 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 19500 strike, followed by 19600 strikes. On the put side, the highest OI is at the 19300 strike, followed by 19100 strikes. Total Calls OI is 6.1 CR  and Total Put OI is 5.33   CR,  This suggests that the market participants are expecting Nifty 50 to remain range between 19200-19500 levels.

In the cash segment, Foreign Institutional Investors (FII) sold 317 crores, while Domestic Institutional Investors (DII) sold 1729 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 took resistance near 20014 and have seen fall towards 19452 

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 19720 . 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 19483, Which Acts As An Intraday Trend Change Level.

Intraday Trading Levels

Buy Above 19420 Tgt 19466, 19499 and 19525 (Nifty Spot Levels)

Sell Below 19343 Tgt 19312, 19272 and 19225 (Nifty Spot Levels)

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

As always, it’s essential to closely monitor market movements and make informed decisions based on a well-thought-out trading plan and risk management strategy. Market conditions can change rapidly, and it’s crucial to be adaptable and cautious in your approach.

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.

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