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.
RBI Policy today, Last Policy with increase of ICRR lead to big fall in intraday in FInance Nifty, Till BUlls are holding 19620-19636 rally can extend towards 19825/19875 , Bears will get active below 19598 can lead to swift fall towards 19512/19444. Try to trade after 11:08 to capture the trend.
Finance Nifty Trade Plan for Positional Trade ,Bulls will get active above 19598 for a move towards 19669/19739/19810. Bears will get active below 19528 for a move towards 19457/19387/19316
Traders may watch out for potential intraday reversals at 9:33,11:08,1:05,2:27 How to Find and Trade Intraday Reversal Times
Finance Nifty Sep Futures Open Interest Volume stood at 54760 with liquidation of 3440 contracts. Additionally, the increase in Cost of Carry implies that there was a addition of SHORT positions today.
Finance Nifty Advance Decline Ratio at 14:04, 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 1950 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.
Your risk-adjusted return is more important than your gross P&L. You shouldn’t try to make 5K a day by losing 5K. You shouldn’t do this after 10 years and you certainly shouldn’t do this when you start.
For Positional Traders, The Finance Nifty Futures’ Trend Change Level is At 19847 . 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 19815 , Which Acts As An Intraday Trend Change Level.
Intraday Trading Levels for Finance Nifty
Buy Above 19700 Tgt 19729, 19777 and 19800 ( Nifty Spot Levels)
Sell Below 19636 Tgt 19600, 19575 and 19525 (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.