Nse Finance did 19881 now today we saw a reversal from higher levels, US Fed will speak of Jackson Hole today evening ,its market turning event as last time when Fed spoke US market saw a decline of 3.5 % in 1 week,We also have important astro event happening on Weekend so trade with hedge for overnight positions. ALso price has completed 108 days from 16 March Low ,important gann time cycle
- Mars Ingress
- Moon Declination
- “Bayer Rule 2: Trend goes down within 3 days when the speed difference between Mars and Mercury is 59 minutes. Leads to Big Move “
- Saturn Earth Maxium Distance
- Sun Opposition Saturn
Nse FInance again took support at 100 DMA and shoowed a bounce. Mars is in Libra from August 27-October 12, 2023. Mars is a plannet of energy and Hopefully it will give energy to either bULLS OR bears to get Nse FInance out of this range and lead to a trending move. DOJI formnation before an Astro event is always a good sign for a trending move. Also we are entering 5Week of the MOnthly expiry which generally leads to trending move.
Finance Nifty Trade Plan Bulls will get active above 19675 for a move towards 1938/19801/19864. Bears will get active below 19610 for a move towards 19549/19487/19424.
Traders may watch out for potential intraday reversals at 10:43,11:30,12:39,1:32,2:13 How to Find and Trade Intraday Reversal Times
Finance Nifty June Futures Open Interest Volume stood at 67400 with liquidation of 10840 contracts. Additionally, the increase in Cost of Carry implies that there was a covering of SHORT positions today.
Finance Nifty Advance Decline Ratio at 08:11, Finance Nifty Rollover Cost is @20638
Finance Nifty has reacted from from 100 SMA @19550 for 5 time . MOre it touch the support weaker it will become, Any break of 19500 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 reacted from 19953
According to the Finance Nifty options chain, the call side has the highest open interest (OI) at the 19700 strike, followed by the 19800 strike. On the put side, the 19600 strike has the highest OI, followed by the 19500 strike. This indicates that market participants anticipate Finance Nifty to stay within the 19500-19800 range.
The Finance Nifty options chain shows that the maximum pain point is at 19700 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.
Many people have a need to be right. That makes it difficult to quickly accept losses, and it makes it especially difficult to flip one’s views. The best traders don’t have a need to be right, and in fact they readily admit that there’s many times they’re wrong.
For Positional Traders, The Finance Nifty Futures’ Trend Change Level is At 19955. 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 19635, Which Acts As An Intraday Trend Change Level.
Intraday Trading Levels for Finance Nifty
Buy Above 19710 Tgt 19743, 19785 and 19824 (Fin Nifty Spot Levels)
Sell Below 19610 Tgt 19555, 19512 and 19470 (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.