Mars is in Libra Nifty 28 Aug Analysis

By | August 26, 2023 8:16 pm


Analysis of FIIs’ behavior in the Nifty Index Futures market shows a Bearish approach as they displayed a preference for SHORT positions. On a net basis, FIIs went SHORT 9237 contracts worth 888 crores, resulting in an increase of 6047 contracts in the Net Open Interest. Additionally, they sold 2 long contracts and added 14897 short contracts, indicating a strategy of covering long positions and of adding  short positions. Till Date FII’s are covered 31069 Long and added 8476 SHORT and Retailers are long  32507  contracts and covered 28353 contracts.

NIfty did 19555 and we saw a reversal from higher levels closed below 19400, 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.
  • 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
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 Bank 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 5 Week of the MOnthly expiry which generally leads to trending move. 19234 is last month low if we close below this we can see a fall towards 18888-18902. 19375-19400 is zone of resistance, Sun Opposition Saturn is also an important aspect so MOnday first 15 mins High and Low will guide intraday traders. 

Nifty Trade Plan  Bulls will get active above 19304 for a move towards 19374/19444/19514/19584. Bears will get active below 19234 for a move towards 19164/19094/19024


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

Nifty July Futures Open Interest Volume stood at 0.85 lakh, witnessing a liquidation of  10.1 lakh contracts. Additionally, the increase in Cost of Carry implies that there was a covering of SHORT positions today.

Nifty Advance Decline Ratio at 09:41 and Nifty Rollover Cost is @19860   and Rollover is at 73.9 %.

Nifty has finally close below 50 SMA with a gap down now 19375-19400 is zone of resistance , Any break of 19234 fast fall towards 18888

Nifty options chain shows that the maximum pain point is at 19200 and the put-call ratio (PCR) is at 0.81 . 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 19400  strike, followed by 19500 strikes. On the put side, the highest OI is at the 19200 strike, followed by 19100 strikes. This suggests that the market participants are expecting Nifty 50 to remain range between 19100-19400 levels.

According To Todays Data, Retailers Have bought 178 K Call Option Contracts And 166 K Call Option Contracts Were Shorted by them. Additionally, They bought 89 K Put Option Contracts And 101 K Put Option Contracts were Shorted by them, Indicating A BULLISH Bias.

In Contrast, Foreign Institutional Investors (FIIs) bought 253 K Call Option Contracts And 296 K Call Option Contracts Were Shorted by them. On The Put Side, FIIs bought 264 K Put Option Contracts And 229 K Put Option Contracts were Shorted by them, Suggesting They Have Turned To BEARISH Bias.

In the cash segment, Foreign Institutional Investors (FII) sold 4638 crores, while Domestic Institutional Investors (DII) bought 1414 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 has closed below  19452 5 days in a row

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 Nifty Futures’ Trend Change Level is At 19541 . 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 19274 , Which Acts As An Intraday Trend Change Level.

Intraday Trading Levels

Buy Above 19343 Tgt 19385, 19410 and 19444 (Nifty Spot Levels)

Sell Below 19250  Tgt 19225, 19185 and 19144 (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: Daily

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.

Leave a Reply