Today was Monthly close for Finance Nifty and price has closed below last month low of 19545 and formed a lower low on Higher time Frame. Price always follow Higher time frame so trend for now is Sell on Rise till we do not see a close above 19545 for 2 days. Price has again closed below its 200 DMA today, Tommrow Saturn goes in Extreme Declination and Jupiter is Minimum Distance to Earth, so 2 Outer Plannet are forming an Astro Event. 01 Nov High and Low will remain Valid throughout the month due to Saturn and Jupiter.
Finance Nifty Trade Plan for Positional Trade ,Bulls will get active above 19239 for a move towards 19308/19377/19446. Bears will get active below 19170 for a move towards 19101/19033
Traders may watch out for potential intraday reversals at 9:56,12:33,1:14,2:58 How to Find and Trade Intraday Reversal Times
Finance Nifty Nov Futures Open Interest Volume stood at 42280 with addition of 12760 contracts. Additionally, the increase in Cost of Carry implies that there was a addition of SHORT positions today.
Finance Nifty Advance Decline Ratio at 11:08, Finance Nifty Rollover Cost is @19275 closed below it
Finance Nifty has closed below its 200 DMA @19224 and Octave Point @19426 close below 19200 can lead to fall towards 19000/18888.
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 18832-19376-19953 . 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 taken resistance at 19376
According to the Finance Nifty options chain, the call side has the highest open interest (OI) at the 19300 strike, followed by the 19400 strike. On the put side, the 19100 strike has the highest OI, followed by the 19000 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 19200 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.
Just give up the idea that we can figure it out! Listen to the market shout a very clear and unmistakable direction to us. All we have to do is listen, feel, and follow the marketís signals and not hope the market follows our lead. Rest assured. It wonít!
For Positional Traders, The Finance Nifty Futures’ Trend Change Level is At 19245 . 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 19245 , Which Acts As An Intraday Trend Change Level.
Intraday Trading Levels for Finance Nifty
Buy Above 19230 Tgt 19255, 19281 and 19323 ( Nifty Spot Levels)
Sell Below 19175 Tgt 19140, 19108 and 19075 (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.