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 again failed to break its 1×2 angle, and closed near its 200 DMA and formed another DOJI. Price has closed above 01 Nov High @19196, Till Bulls are holding above 19196 Finance Nifty can see rally towards 19500-19525. Today Bayer Rule 9: Big changes on market are when Mercury passes over 19 degrees 36 minutes of Scorpio and Sagittarius,also over 24 degrees 14 minutes of Capricorn. will also become active and Saturn going direct on 04 Novemeber. So carry overnight positions with Hedge.
Finance Nifty Trade Plan for Positional Trade ,Bulls will get active above 19308 for a move towards 19377/19446. Bears will get active below 19170 for a move towards 19101/19033
Traders may watch out for potential intraday reversals at 9:51,11:47,12:24,1:16,2:15 How to Find and Trade Intraday Reversal Times
Finance Nifty Nov Futures Open Interest Volume stood at 48560 with addition of 3320 contracts. Additionally, the increase in Cost of Carry implies that there was a addition of LONG positions today.
Finance Nifty Advance Decline Ratio at 16:03, Finance Nifty Rollover Cost is @19275 closed above it
Finance Nifty has closed above its 200 DMA @19230 , Holding 19200 can see rally towards 19500.
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 19200 strike has the highest OI, followed by the 19100 strike. This indicates that market participants anticipate Finance Nifty to stay within the 19100-19300 range.
The Finance Nifty options chain shows that the maximum pain point is at 19300 and the put-call ratio (PCR) is at 0.88 . 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 19400. 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 19286 , Which Acts As An Intraday Trend Change Level.
Intraday Trading Levels for Finance Nifty
Buy Above 19300 Tgt 19325, 19350 and 19380 ( Nifty Spot Levels)
Sell Below 19250 Tgt 19225, 19198 and 19144 (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.