Finance Nifty showed a perfect bounce from the gann angle , Bulls need a close above 20000 for the correction to get over else Bears can break 100 DMA which has been holding from almsot 5 time. More we touch a support more weaker it becomes. Mercury Trine Jupiter Aspect today suggesting break of todays high and low can lead to trending move. Monthly expiry toomrow generally leads to trending move.
Mars Opposition North Node genreally create short term top and bottom as discussed in below video,”RULE NO. 38 MERCURY LATITUDE HELIOCENTRIC Some mighty fine tops and bottoms are produced when Mercury in this motion passes the above mentioned degrees” Finance Nifty has closed below 3x 4 angle should be heading towards 1×2 angle till we do not close above 19850-19900 range. We have Mercury Ingress tommrow so first 15 mins High and Low will guide for the day for intraday traders.
Finance Nifty Trade Plan for Positional Trade ,Bulls will get active above 19598 for a move towards 1669/19739/19810. Bears will get active below 19528 for a move towards 19457/19387/19316
Traders may watch out for potential intraday reversals at 9:34,10:15,11:44,12:10,2:32 How to Find and Trade Intraday Reversal Times
Finance Nifty Sep Futures Open Interest Volume stood at 58200 with addition of 6080 contracts. Additionally, the increase in Cost of Carry implies that there was a addition of SHORT positions today.
Finance Nifty Advance Decline Ratio at 01:18, Finance Nifty Rollover Cost is @19961 closed below it
Finance Nifty is back towards its 100 DMA @19798 close below it can lead to fall towards 19174.
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 19700 strike, followed by the 19800 strike. On the put side, the 19500 strike has the highest OI, followed by the 19400 strike. This indicates that market participants anticipate Finance Nifty to stay within the 19400-19700 range.
The Finance Nifty options chain shows that the maximum pain point is at 19600 and the put-call ratio (PCR) is at 0.83. Typically, when the PCR open interest ranges between 0.90 and 1.05, the market tends to remain range-bound.
Anyone can become a successful trader as long as these common elements of fear and lack of emotional sense can be controlled. This does take some time and effort, as well as a good grip on the realities of the market.
For Positional Traders, The Finance Nifty Futures’ Trend Change Level is At 19852 . 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 19697 , Which Acts As An Intraday Trend Change Level.
Intraday Trading Levels for Finance Nifty
Buy Above 19600 Tgt 19636, 19666 and 19699 ( Nifty Spot Levels)
Sell Below 19555 Tgt 19512, 19485 and 19444 (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.