Nifty Trade Setup for 09 August

By | August 8, 2023 11:58 pm


Analysis of FIIs’ behavior in the Nifty Index Futures market shows a Bulish approach as they displayed a preference for LONG  positions. On a net basis, FIIs went LONG 3 contracts worth 0.25 crores, resulting in an decrease of 4721 contracts in the Net Open Interest. Additionally, they sold 1144  long contracts and covered 7337 short contracts, indicating a strategy of closing long positions and closing of short positions.

As Discussed in Last Analysis

We have 3 Bayers Rule as discussed below and Nifty formed DOJI 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.

Jupiter Square Sun Aspect 

Nifty has formed the third higher high and higher low on the daily chart, For Bulls to maintain control, a close above 19650 is crucial. Failure to achieve this could lead Bears to drive the price back down towards 19410.

Gann’s emphasis on the number 3 is noteworthy, and if today’s high isn’t breached and considering the astrological observation mentioned in Bayer Rule 27, which indicates that significant tops and major bottoms can occur when Mercury’s speed in Geocentric longitude is at 59 minutes or 1 degree 58 minutes, there is a possibility of a decline in till 19410 Nifty if the closing price remains below 19650.

Nifty Bulls need to move above 19644 which is Octave point , Unable to do that fall can extend of 19557/19470/19383. 

Traders may watch out for potential intraday reversals at 9:21,11:53,12:41,1:36,2:44  How to Find and Trade Intraday Reversal Times

Nifty July Futures Open Interest Volume stood at 1.09 lakh, witnessing a liquidation of  7.6 lakh contracts. Additionally, the increase in Cost of Carry implies that there was a covering of LONG  positions today.

Nifty Advance Decline Ratio at 19:31  and Nifty Rollover Cost is @19860   and Rollover is at 73.9 %.

Nifty  has broken its 20 SMA support and heading towards 50 SMA @19181

Nifty options chain shows that the maximum pain point is at 19600 and the put-call ratio (PCR) is at 1.11. 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 19700  strike, followed by 19800 strikes. On the put side, the highest OI is at the 19500 strike, followed by 19400 strikes. This suggests that the market participants are expecting Nifty 50 to remain range between 19400-19700 levels.

In the cash segment, Foreign Institutional Investors (FII) sold 711 crores, while Domestic Institutional Investors (DII) sold 537 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 has bounced from 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 19630 . 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 19623, Which Acts As An Intraday Trend Change Level.

Intraday Trading Levels

Buy Above 19600 Tgt 19636, 19666 and 19699 (Nifty Spot Levels)

Sell Below 19520 Tgt 19485, 19444 and 19400 (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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