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.
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 9:18,10:56,11:38,12:28,1:59,2:40 How to Find and Trade Intraday Reversal Times
Finance Nifty June Futures Open Interest Volume stood at 94920 with liquidation of 5040 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 @19471, Till 19471 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 20019. 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 19603, 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.