Finance Nifty 17 Oct Weekly Expiry Analysis

By | October 17, 2023 9:11 am

Finance Nifty will react of HDFC BANK Results today Price is still below 1×1 line and trading below 20/50 SMA and also forming multiple small candels, as discussed in below Video Solar Eclispse should see reversal in market so we can see good move in next 1-2 days. 19875-19882 range is Gann Monthly and Annual TC level closing above it can see move towards 20000/20167.

Finance Nifty Trade Plan for Positional Trade ,Bulls will get active above 19884  for a move towards 19954/20023/20093. Bears will get active below 19814 for a move towards 19744/19674/19604.

 Traders may watch out for potential intraday reversals at 9:28,10:39,12:58,1:39,2:16 How to Find and Trade Intraday Reversal Times

Finance Nifty Oct Futures Open Interest Volume stood at 72840 with addition of 10320 contracts. Additionally, the increase in Cost of Carry implies that there was a addition of SHORT   positions today.

Finance Nifty Advance Decline Ratio at 04:14, Finance Nifty Rollover Cost is @19961 closed below it

Finance Nifty closed below 20/50/100 SMA and heading towads 19200-19240 till we close below 19875

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 19850  strike, followed by the 19950 strike. On the put side, the 19700 strike has the highest OI, followed by the 19600 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 0.93. 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 19836 . 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 19670 , Which Acts As An Intraday Trend Change Level.

FIN Nifty Expiry Range

Upper End of Expiry : 19900

Lower End of Expiry : 19759

FIN Nifty Intraday Trading Levels

Buy Above 19875 Tgt 19900, 19934 and 19970 ( Fin Nifty Spot Levels)

Sell Below 19800 Tgt 19775, 19750 and 19729 (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.

Category: Finance NIfty Daily Analysis

About Bramesh

Bramesh Bhandari has been actively trading the Indian Stock Markets since over 15+ Years. His primary strategies are his interpretations and applications of Gann And Astro Methodologies developed over the past decade.

Leave a Reply