Finance 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 finance nifty. We have 2 important astro date coming tommrow and we will see FOMC meeting outcome today
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.
Finance Nifty is back towards its 100 DMA and Gann angle support as shown below.Today being weekly close bears would like to close below 19777 for dowmove to continue towards 19600-19500. 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.
Finance Nifty Trade Plan for Positional Trade ,Bulls will get active above 20151 for a move towards 20223/20294/20366. Bears will get active below 20080 for a move towards 20008/19936. — All Target done Now break of 19777 can lead to fall towards 19700/19610
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
Finance Nifty Sep Futures Open Interest Volume stood at 56840 with addition of 10760 contracts. Additionally, the increase in Cost of Carry implies that there was a addition of SHORT positions today.
Finance Nifty Advance Decline Ratio at 02:18, Finance Nifty Rollover Cost is @19856 closed above it
Finance Nifty is back towards its 100 DMA @19786 close below it can lead to fall towards 19155.
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 has broken 19953 heading towards 19376.
According to the Finance Nifty options chain, the call side has the highest open interest (OI) at the 19900 strike, followed by the 20000 strike. On the put side, the 198000 strike has the highest OI, followed by the 197000 strike. This indicates that market participants anticipate Finance Nifty to stay within the 19700-19900 range.
The Finance Nifty options chain shows that the maximum pain point is at 19850 and the put-call ratio (PCR) is at 0.73. Typically, when the PCR open interest ranges between 0.90 and 1.05, the market tends to remain range-bound.
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 Finance Nifty Futures’ Trend Change Level is At 20134 . 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 19951, Which Acts As An Intraday Trend Change Level.
Intraday Trading Levels for Finance Nifty
Buy Above 19848 Tgt 19882, 19915 and 19950 (Fin Nifty Spot Levels)
Sell Below 19777 Tgt 19729, 19700 and 19666 (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.