We have 3 Bayers Rule as discussed below and Finance Nifty formed NR21 today so price is getting ready for big move with levels as mentioned.
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).
Bayer Rule 27: Big tops and big major bottoms are when Mercury’s speed in Geocentric longitude is 59 minutes or 1 degree 58 minutes.
Finance Nifty Trade Plan Bulls will get active above 20080 for a move towards 20130/20183/20236. Bears will get active below 19970 for a move towards 19918/19864/19811.
Traders may watch out for potential intraday reversals at 9:25,11:27,12:39,2:23 How to Find and Trade Intraday Reversal Times
Finance Nifty June Futures Open Interest Volume stood at 69400 with addition of 8720 contracts. Additionally, the increase in Cost of Carry implies that there was a addition of SHORT positions today.
Finance Nifty Advance Decline Ratio at 11:08, Finance Nifty Rollover Cost is @20638
Finance Nifty has broken its 50 SMA support and heading towards 100 SMA @19244
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 20000 strike, followed by the 20100 strike. On the put side, the 19900 strike has the highest OI, followed by the 19800 strike. This indicates that market participants anticipate Finance Nifty to stay within the 19900-20100 range.
The Finance Nifty options chain shows that the maximum pain point is at 20000 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.
Years of practice at the game, of constant study, of always remembering, enable the trader to act on the instant when the unexpected happens as well as when the expected comes to pass.
For Positional Traders, The Finance Nifty Futures’ Trend Change Level is At 20331 . 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 20001, Which Acts As An Intraday Trend Change Level.
Intraday Trading Levels for Finance Nifty
Buy Above 20025 Tgt 20076, 20121 and 20182 (Fin Nifty Spot Levels)
Sell Below 19970 Tgt 19920, 19875 and 19820 (Fin Nifty Spot Levels)
Upper End of Expiry : 20138
Lower End of Expiry : 19905
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.