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 1971 contracts worth 192 crores, resulting in an increase of 2439 contracts in the Net Open Interest.
RBI Policy today, Last Policy with increase of ICRR lead to big fall in intraday in Nifty, Till BUlls are holding 19575-19600 rally can extend towards 19683/19729/19777 , Bears will get active below 19575 can lead to swift fall towards 19512/19444. Try to trade after 11:08 to capture the trend.
Nifty saw a sharp decline due to ISRAEL-PALESTINE WAR which lead to sharp increase in Crude price and we also saw the impact of Venus Ingress as discussed in below video. Today as Moon goes in Apogee(The Moon will reach the furthest point along its orbit to the Earth and will appear slightly smaller than at other times.) it can lead to more voaltile move in Bank Nifty. Also 2 Bayers Rule are coming in Effect today so first 15 mins High and Low will guide INtraday traders.
Bayer Rule 5:Mercury Retrograde Zodical Position of One Year ”
Bayer Rule 14: VENUS MOVEMENTS IN GEOCENTRIC LONGITUDE USING A UNIT OF 1*9’13””
Swing Traders can go long above 19611 for a move towards 19681/19750. Bears will get active below 19472 for a move towards 19403/19333.
Traders may watch out for potential intraday reversals at 9:22,11:56,1:08,2:10,2:43 How to Find and Trade Intraday Reversal Times
Nifty Oct Futures Open Interest Volume stood at 1.04 lakh cr , witnessing a liquidation of 1 lakh contracts. Additionally, the increase in Cost of Carry implies that there was a covering of LONG positions today.
Nifty Advance Decline Ratio at 10:39 and Nifty Rollover Cost is @19768 and Rollover is at 70.4%.
Nifty closed below 20/50/100 SMA and heading towads 19200-19240 till we close below 19610
Nifty options chain shows that the maximum pain point is at 19500 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.
Nifty 50 Options Chain Analysis
The Nifty 50 options chain indicates that the highest open interest (OI) on the call side is at the 19500 strike, followed by 19600 strikes. On the put side, the highest OI is at the 19400 strike, followed by 19300 strikes. This suggests that the market participants are expecting Nifty 50 to remain range between 19300 -19500 levels.Total Call OI is 4.95 cr and Total Put OI is 3.58 cr
In the cash segment, Foreign Institutional Investors (FII) sold 997 crores, while Domestic Institutional Investors (DII) bought 2661 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 above 19452
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 Nifty Futures’ Trend Change Level is At 19601. 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 19557 , Which Acts As An Intraday Trend Change Level.
Nifty Intraday Trading Levels
Buy Above 19576 Tgt 19599, 19636 and 19666 ( Nifty Spot Levels)
Sell Below 19500 Tgt 19465, 19424 and 19400 (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.