Nifty 17 Aug Weekly Expiry Analysis

By | August 16, 2023 11:26 pm


Analysis of FIIs’ behavior in the Nifty Index Futures market shows a Bullish approach as they displayed a preference for LONG positions. On a net basis, FIIs went Long 5202 contracts worth 506 crores, resulting in an increase of 334  contracts in the Net Open Interest. Additionally, they bought 1118 long contracts and added 239 short contracts, indicating a strategy of adding long positions and adding of short positions. Till Date FII’s are covered 37812 Long and added 7811 SHORT.

Nifty from past 2 days have been opening gap down but the gap is getting filled and closing in green. Now today we have an important astro date as discussed in below video, Till Bulls are able to hold 19410 We can see relief rally toward19555/19610 , Any break of 19345 can see fast fall towards 19275/19166.

Nifty Trade Plan  Bulls will get active above 19505  for a move towards 19575/19645. Bears will get active below 19435 for a move towards 19365/19295/19225

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

Nifty July Futures Open Interest Volume stood at 1.08 lakh, witnessing a addition of  1.5 lakh contracts. Additionally, the increase in Cost of Carry implies that there was a addition of SHORT positions today.

Nifty Advance Decline Ratio at 25:25 and Nifty Rollover Cost is @19860   and Rollover is at 73.9 %.

Nifty has bounced from 50 SMA @19275, Till 19275  is held bounce towards 19555/19630.

Nifty options chain shows that the maximum pain point is at 19500 and the put-call ratio (PCR) is at 0.92 . 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 19400 strike, followed by 19300 strikes. This suggests that the market participants are expecting Nifty 50 to remain range between 19300-19600 levels.

According To Todays Data, Retailers Have bought 709 K Call Option Contracts And 607 K Call Option Contracts Were Shorted by them. Additionally, They bought 189 K Put Option Contracts And 142  K Put Option Contracts were Shorted by them, Indicating A BULISH Bias.

In Contrast, Foreign Institutional Investors (FIIs) bought 110 K Call Option Contracts And 138 K Call Option Contracts Were Shorted by them. On The Put Side, FIIs bought 189 K Put Option Contracts And 142  K Put Option Contracts were Shorted by them, Suggesting They Have Turned To BEARISH  Bias.

In the cash segment, Foreign Institutional Investors (FII) bought 722 crores, while Domestic Institutional Investors (DII) bought 2046 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 heading back to  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 19620 . 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 19428, Which Acts As An Intraday Trend Change Level.

Intraday Trading Levels

Buy Above 19500 Tgt 19525, 19555 and 19610 (Nifty Spot Levels)

Sell Below 19450 Tgt 19410, 19375 and 19312  (Nifty Spot Levels)

Upper End of Expiry : 19588

Lower End of Expiry : 19341

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.

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