Nifty Breaks 50 DMA, 01 Sep Analysis

By | September 1, 2023 10:21 am



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 17578 contracts worth 1708 crores, resulting in an decrease of 68604 contracts in the Net Open Interest.

Today we have Bayers  “RULE NO. 38 MERCURY LATITUDE HELIOCENTRIC Some mighty fine tops and bottoms are produced when Mercury in this motion passes the above mentioned degrees” , Nifty will open gap up so watch out for first 15 mins HIgh and LOw to capture trend for the day. Price is stuck in range of 19250-19450. Break of any side will lead to 200+ point move.
Nifty has finally closed below its 50 DMA and made a fresh1 month low yesterday Bulls were able to protect to close above 19234 . Today, Mars YOD Saturn, and on the 4th of September, “RULE NO 44 MERCURY HALFWAY RETROGRADE PLACE — Consider +-1 day”. So NIfty could see another big move in next 2 trading session. Bears will like to break 19200 and BUlls need a break above 19400 in between sideways move will continue


Nifty Trade Plan  Bulls will get active above 19366 for a move towards 19425/19484/19542. Bears will get active below 19250  for a move towards 19191/19132/19074


Traders may watch out for potential intraday reversals at 10:27,11:15,12:22,1:22,2:07 How to Find and Trade Intraday Reversal Times

Nifty Sep Futures Open Interest Volume stood at 1 lakh cr , witnessing a addition of  26 lakh contracts. Additionally, the increase in Cost of Carry implies that there was a addition of SHORT positions today.

Nifty Advance Decline Ratio at 25:25 and Nifty Rollover Cost is @19445 and Rollover is at 74.1 %.

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 19300 and the put-call ratio (PCR) is at 0.85 . 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 19200-19400 levels.

In the cash segment, Foreign Institutional Investors (FII) sold 2973 crores, while Domestic Institutional Investors (DII) bought 4382 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 7 days in a row

Our sense of self is enhanced by size, be it in trading large numbers, living in a big house, driving a big car, or owning a big boat. Our egos swell in proportion to the bigness of our risk assumption.

For Positional Traders, The Nifty Futures’ Trend Change Level is At 19408 . 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 19492 , Which Acts As An Intraday Trend Change Level.

Intraday Trading Levels

Buy Above 19335 Tgt 19370, 19400 and 19444 (Nifty Spot Levels)

Sell Below 19250 Tgt 19225, 19200 and 19170 (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.

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