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 3328 contracts worth 333 crores, resulting in an increase of 4462 contracts in the Net Open Interest.
Nifty has reacted from the Gann angle and astro date as discussed in below video, All thanks to HDFC Bank we have seen a decent cut in Bank nifty. We have 2 important astro date coming tommrow and we will see market reaction to FOMC meeting today with gap down. Watch out for price action near 45000 it will act as a trend change level till expiry.
Bayer Rule 6: The price is in bottom/top when Mars was in 16 degrees 35 minutes of some sign and plus 30 degrees.
Bayer Rule 27: Big tops and big major bottoms are when Mercury’s speed in Geocentric longitude is 59 minutes or 1 degree 58 minutes.
First 15 mins High and low will guide for the day.
Nifty is back towards its 20/50 DMA and Gann angle support is coming at 19500.Today being weekly close bears would like to close below 19683 important gann number for dowmove to continue towards 19321. Today we have Mercury at Greatest Elong: 17.9°W and tommrow Autumnal Equinox so watch for 15 mins high and low to capture trend for the day.
Nifty Trade Plan for Positional Trade ,Bulls will get active above 19911 for a move towards 19982/20053. Bears will get active below 19836 for a move towards 19769/19698 – All Target done Now break of 19686 can lead to fall towards 19555/19485/19321
Traders may watch out for potential intraday reversals at 9:48,11:43,12:40,02:22 How to Find and Trade Intraday Reversal Times
Nifty Sep Futures Open Interest Volume stood at 0.90 lakh cr , witnessing a liquidation of 5.3 lakh contracts. Additionally, the increase in Cost of Carry implies that there was a liquidation of SHORT positions today.
Nifty Advance Decline Ratio at 16:34 and Nifty Rollover Cost is @19445 and Rollover is at 74.1 %.
Nifty is near its 20/50 SMA till 19683 is protected Bulls have upper hand. Once 1 hour close below 19683 bears will see fall towards 19500
Nifty options chain shows that the maximum pain point is at 19700 and the put-call ratio (PCR) is at 0.8. 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 19700 strike, followed by 19800 strikes. On the put side, the highest OI is at the 19600 strike, followed by 19500 strikes. This suggests that the market participants are expecting Nifty 50 to remain range between 19500 -197000 levels.Total Call OI is 9.95 cr and Total Put OI is 6.58 cr
In the cash segment, Foreign Institutional Investors (FII) sold 3328 crores, while Domestic Institutional Investors (DII) sold 333 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 20014 heading towards 19452
To outperform the market and to succeed in trading, a trader needs to take charge of his emotions. To start off, he requires a patient and confident mind.
For Positional Traders, The Nifty Futures’ Trend Change Level is At 19851. 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 19797, Which Acts As An Intraday Trend Change Level.
Nifty Intraday Trading Levels
Buy Above 19754 Tgt 19779, 19824 and 19864 ( Nifty Spot Levels)
Sell Below 19700 Tgt 19666, 19633 and 19600 (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.