Finance Nifty is heading towards its 1×1 gann angle and today being an Important Astro and Gann date as discussed in below analysis suggesting we can see Potential Price time Squaring and can lead to change in trend.
- “Bayer Rule 2: Trend goes down within 3 days when the speed difference between Mars and Mercury is 59 minutes. Leads to Big Move “
- Venus Conjunct Mercury HELIO
- Moon Conjunction Saturn
- Moon Apogee
For Intraday Traders watch for first 15 mins high and low to capture the trend of the day.
Finance Nifty is facing resistance at 1×1 gann angle and Price is still un able to close above 20440. Finance Nifty has underperfomed NIfty. WHile Nifty is hitting fresh all High Finance Nifty is unable to.
Finance Nifty Trade Plan for Positional Trade ,Bulls will get active above 20306 for a move towards 20377/20448/20518. Bears will get active below 20236 for a move towards 20165/20094/20024
Traders may watch out for potential intraday reversals at 99:36,10:23,12:05,12:56,1:46,2:48 How to Find and Trade Intraday Reversal Times
Finance Nifty Sep Futures Open Interest Volume stood at 78960 with addition of 2640 contracts. Additionally, the increase in Cost of Carry implies that there was a addition of LONG positions today.
Finance Nifty Advance Decline Ratio at 18:01, Finance Nifty Rollover Cost is @19856 closed above it
Finance Nifty price is above all its short and long term moving average, Trend is Buy on Dips till 20000 is held.
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 21140-20529-19953 . 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 is near to 20529
According to the Finance Nifty options chain, the call side has the highest open interest (OI) at the 20300 strike, followed by the 20400 strike. On the put side, the 20200 strike has the highest OI, followed by the 20100 strike. This indicates that market participants anticipate Finance Nifty to stay within the 20200-20400 range. Total Call OI is 1.25 Cr and Total Put OI is 1.40Cr
The Finance Nifty options chain shows that the maximum pain point is at 20300 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.
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 Finance Nifty Futures’ Trend Change Level is At 20042 . 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 20384, Which Acts As An Intraday Trend Change Level.
Intraday Trading Levels for Finance Nifty
Buy Above 20470 Tgt 20520, 20555 and 20610 (Fin Nifty Spot Levels)
Sell Below 20330 Tgt 20300, 20270 and 20225 (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.