Today we have important aspect forming which are as follow
- Mars Opposition Neptune
- Venus Square Jupiter
- Jupiter Opposition Moon
- Sun moving to Virgo
- ALso 22 Aug is important Gann Date
With Both Gann and Astro date confluncing again we can see big move, For INtraday traders First 15 mins HIgh and low will guide for the day, Swing traders levels are mentioned as below.
NSE Finance has formed an NR21 days when gann and astro cycle are confluencing and be prepared for big move as explained in below video with Both Mercury which is Retrograde and Sun Changing Sign.
The NR21 pattern, as the name suggests, refers to a trading situation where the range of price movement over a specific period is exceptionally narrow. Specifically, the range should be the smallest within the past 21 trading sessions.
The significance of the number 21 lies in its representation of a trading month, considering the typical number of trading days. Traders use this period to identify the tightest range within which price has moved.
The NR21 pattern signifies a state of market compression, where volatility is notably reduced. This reduction in price range is often indicative of a period of indecision among traders.
Finance Nifty Trade Plan Bulls will get active above 19658 for a move towards 19722/19787/19852/19918. Bears will get active below 19527 for a move towards 19462/19397/19332/19267
Traders may watch out for potential intraday reversals at 9:21,11:49,1:00,1:55,2:21 How to Find and Trade Intraday Reversal Times
Finance Nifty June Futures Open Interest Volume stood at 110520 with addition of 15600 contracts. Additionally, the increase in Cost of Carry implies that there was a addition of SHORT positions today.
Finance Nifty Advance Decline Ratio at 10:09, Finance Nifty Rollover Cost is @20638
Finance Nifty has bounced from 100 SMA @19471, Till 19436 is held bounce towards 19900, Any break of 19450 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 19600 and the put-call ratio (PCR) is at 0.94. 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 19997. 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 19633 , 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.