Finance Nifty Bounce from 100 DMA, 17 Aug Analysis

By | August 16, 2023 8:33 pm

Finance Nifty saw the effect of 99 Gann Bars as we have discussed  in last analysis, Now today we have an important astro date as discussed in below video, Till Bulls are able to hold 19424 We can see relief rally towards 19729-19900, Any break of 19400 can see fast fall towards 19050.




Finance Nifty Trade Plan  Bulls will get active above 19633 for a move towards 19702/19772/19842. Bears will get active below 19563 for a move towards 19493/19424

 Traders may watch out for potential intraday reversals at 9:34,11:24,12:12,01:25,2:48 How to Find and Trade Intraday Reversal Times

Finance Nifty June  Futures Open Interest Volume stood at 90000 with addition of 1640 contracts. Additionally, the increase in Cost of Carry implies that there was a addition of SHORT positions today.

Finance Nifty Advance Decline Ratio at 06:13, Finance Nifty Rollover Cost is @20638

Finance Nifty has bounced from 100 SMA @19419, Till 19419 is held bounce towards 19900

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 has bounced from 19376

According to the Finance Nifty options chain, the call side has the highest open interest (OI) at the 19600  strike, followed by the 19700  strike. On the put side, the 19500 strike has the highest OI, followed by the 19400 strike.  This indicates that market participants anticipate Finance  Nifty to stay within the 19400-19700 range.

The Finance Nifty options chain shows that the maximum pain point is at 19600  and the put-call ratio (PCR) is at 0.85. Typically, when the PCR open interest ranges between 0.90 and 1.05, the market tends to remain range-bound.

No amount of study or practice can make one successful in the handling of capital if one really is not cut out for it.

For Positional Traders, The Finance Nifty Futures’ Trend Change Level is At 20111 . 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 19589, Which Acts As An Intraday Trend Change Level.

Intraday Trading Levels for Finance Nifty

Buy Above 19610 Tgt 19656, 19699 and 19743 (Fin Nifty Spot Levels)

Sell Below 19540  Tgt 19505, 19466 and 19433 (Fin 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: Fin NIfty

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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