Finance Nifty Trade Set up for 18 August

By | August 17, 2023 8:45 pm

As Discussed in Last Analysis

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 formed a Perfect DOJI today with price struggling to close above the previous day high, on Weekly chart we will be forming 4 red candel in row, Bulls would like to close around 19640-19650 tommrow and bears would like to close baround 19400-19420 range for a big move next week as multiple astro dates are coming.



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 10:31,11:20,12:03,2:06,2:46 How to Find and Trade Intraday Reversal Times

Finance Nifty June  Futures Open Interest Volume stood at 88760 with liquidation of 1240 contracts. Additionally, the increase in Cost of Carry implies that there was a addition of SHORT positions today.

Finance Nifty Advance Decline Ratio at 09:10, Finance Nifty Rollover Cost is @20638

Finance Nifty has bounced from 100 SMA @19436, Till 19436 is held bounce towards 19900, Any break of 19400 fast fall towards 19225/19050

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 19500  and the put-call ratio (PCR) is at 0.88. Typically, when the PCR open interest ranges between 0.90 and 1.05, the market tends to remain range-bound.

One of the most important attributes of a professional trader is the willingness to accept full responsibility for one’s actions. One can never improve if every mistake is the broker’s, or the fault of the data vendor, or the software.

For Positional Traders, The Finance Nifty Futures’ Trend Change Level is At 20078. 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 19617, Which Acts As An Intraday Trend Change Level.

Intraday Trading Levels for Finance Nifty

Buy Above 19575 Tgt 19600, 19630 and 19666 (Fin Nifty Spot Levels)

Sell Below 19525 Tgt 19490, 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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