Analysis of FIIs’ behavior in the Nifty Index Futures market shows a Bullish approach as they displayed a preference for LONG positions. On a net basis, FIIs went LONG 5180 contracts worth 507 crores, resulting in an increase of 3610 contracts in the Net Open Interest.
Nifty Trade Plan Bulls will get active above 19642 for a move towards 19711/19781/19851. Bears will get active below 19572 for a move towards 19502/19432/19385
Traders may watch out for potential intraday reversals at 10:04,11:34,1:24,2:21 How to Find and Trade Intraday Reversal Times
Nifty Sep Futures Open Interest Volume stood at 0.96 lakh cr , witnessing a addition of 0.78 lakh contracts. Additionally, the increase in Cost of Carry implies that there was a addition of SHORT positions today.
Nifty Advance Decline Ratio at 30:21 and Nifty Rollover Cost is @19445 and Rollover is at 74.1 %.
Nifty has closed above all 20/50 SMA till 19430 is protected Bulls have upper hand.
Nifty options chain shows that the maximum pain point is at 19600 and the put-call ratio (PCR) is at 0.9. 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 19600 strike, followed by 19700 strikes. On the put side, the highest OI is at the 19500 strike, followed by 19400 strikes. This suggests that the market participants are expecting Nifty 50 to remain range between 19500-19800 levels.
In the cash segment, Foreign Institutional Investors (FII) sold 3246 crores, while Domestic Institutional Investors (DII) sold 247 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 above 19452.
Trading requires discipline, humility, and a willingness to learn from others, and disrespecting the market would only result in the market not respecting him back.
For Positional Traders, The Nifty Futures’ Trend Change Level is At 19538 . 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 19613, Which Acts As An Intraday Trend Change Level.
Intraday Trading Levels
Buy Above 19636 Tgt 19666, 19699 and 19720 (Fin Nifty Spot Levels)
Sell Below 19595 Tgt 19566, 19529 and 19501 (Fin Nifty Spot Levels)
Upper End of Expiry : 19720
Lower End of Expiry : 19501
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.