NIfty 19 Oct 2023 Weekly Expiry Analysis

By | October 19, 2023 12:25 am


Analysis of FIIs’ behavior in the Nifty Index Futures market shows a Bullish approach as they displayed a preference for LONG positions. On a net basis, FIIs went LONG 4161 contracts worth 410 crores, resulting in an decrease of 2827 contracts in the Net Open Interest.

As Discussed in Last Analysis

We have Multiple Astro events Involving Mars/Mercury/Venus/North node as discussed in below video, with price struggling at 3×4 gann angle as discuused below to move away from 3×4 gann angle we will need a big red/green candel. Nifty will also be completing 144 trading days from 20 March 2023 Low tommrow so as both gann and astro date are confluecing we could see big move. 

We have seen Impact of Price near  Gann Angle and to resolve this we got big red candel.  Astro Cycle with Mars/Mercury/Venus/North node. 19622-19593 range is importnat demand zone  If 19593 and sustained below it for 15 mins 19500/19412 quiet possible as  Mercury Opposition North Node Aspect is forming again voaltile day is coming.

Nifty Trade Plan for Positional Trade ,Bulls will get active above 19778 for a move towards 19888/20000. Bears will get active below 19629 for a move towards 19559/19448/19418

Traders may watch out for potential intraday reversals at 9:38,10:35,1:31,2:07 How to Find and Trade Intraday Reversal Times

Nifty Oct Futures Open Interest Volume stood at 0.92 lakh cr , witnessing a liquidation of 2.3 lakh contracts. Additionally, the increase in Cost of Carry implies that there was a closeure of LONG positions today.

Nifty Advance Decline Ratio at 10:40 and Nifty Rollover Cost is @19768 and Rollover is at 70.4%.

Nifty closed above 20/50/100 SMA and heading towads 19500  till we close below 19830.

Nifty options chain shows that the maximum pain point is at 19700 and the put-call ratio (PCR) is at 0.85. 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 19700 strike, followed by 19800  strikes. On the put side, the highest OI is at the 19600 strike, followed by 19500  strikes. This suggests that the market participants are expecting Nifty 50 to remain range between 19500 -19700  levels.Total Call OI is 5.95 cr and Total Put OI is 5.58 cr

In the cash segment, Foreign Institutional Investors (FII) sold 1831 crores, while Domestic Institutional Investors (DII) bought 1469 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

You will not be rewarded because you didn’t follow the process. You will not be rewarded because you broke the rule. You will not be rewarded because you simply lack discipline.

For Positional Traders, The Nifty Futures’ Trend Change Level is At 19688  . 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 19741 , Which Acts As An Intraday Trend Change Level.

Nifty Expiry Range

Upper End of Expiry : 19712

Lower End of Expiry : 19487

 Nifty Intraday Trading Levels

Buy Above 19666   Tgt 19699, 19729 and 19777 ( Nifty Spot Levels)

Sell Below 19607  Tgt 19575, 19529  and 19487 (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.

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