Nifty 09 Nov 2023 Weekly Expiry Analysis

By | November 9, 2023 12:10 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 788 contracts worth 76 crores, resulting in an increase of 618 contracts in the Net Open Interest.

As Discussed in Last Analysis

Low made was 19329 Nifty formed  DOJI closed above Saturn Direct High and 50% point of 19343. today we have Venus Ingress, Watch for first 15 mins High and Low to capture the trend of the day. Today is the 9 day of rise from the 26 Oct bottom. 9 is important number as per gann so be ready for a volatile move. Last upmove from 04 Oct also lasted for 09 Days and price reacted from 62.5% Gann Retracement. So lets see if we get another price and time symnetry today.

Nifty made a high of 19464 near 62.5 % @ 19470 on Venus Ingress, Bayer Rule 14: VENUS MOVEMENTS IN GEOCENTRIC LONGITUDE USING A UNIT OF 1*913 and Moon at 0 Declination are 2 important events happening tomorrow. Nifty has also formed an NR7 pattern today and Gann Price Time Symmetry also forming as discussed in below video suggesting we are in for a trending move in next 2 trading session. For Intraday traders watch out for first 15 mins High and Low to capture trend of the day.



Nifty Trade Plan for Positional Trade ,Bulls will get active above 19418 for a move towards 19488/19557/19625 . Bears will get active below 19320 for a move towards 19277/19207/19137 Waiting for 19488/19557/19625

Traders may watch out for potential intraday reversals at 9:20,11:53,1:20,2:09 How to Find and Trade Intraday Reversal Times

Nifty Nov Futures Open Interest Volume stood at 1.09 lakh cr , witnessing a liquidation of 0.37 lakh contracts. Additionally, the increase in Cost of Carry implies that there was a closeure of LONG positions today.

Nifty Advance Decline Ratio at 33:17 and Nifty Rollover Cost is @19372 closed below it.

Nifty is near its 20 DMA, Fight on to close above 19410-19455 zone. Any break of 19410 will lead to fall towards 19320

Nifty options chain shows that the maximum pain point is at 19450 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 19500 strike, followed by 19600  strikes. On the put side, the highest OI is at the 19300 strike, followed by 19200   strikes. This suggests that the market participants are expecting Nifty 50 to remain range between 19300-19600  levels.

In the cash segment, Foreign Institutional Investors (FII) sold 84 crores, while Domestic Institutional Investors (DII) bought 524 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.

“Years of practice at the game, of constant study, of always remembering, enable the trader to act on the instant when the unexpected happens as well as when the expected comes to pass.”

For Positional Traders, The Nifty Futures’ Trend Change Level is At 19246 . 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 19497, Which Acts As An Intraday Trend Change Level.

Nifty Expiry Range

Upper End of Expiry : 19555

Lower End of Expiry : 19330


Nifty Intraday Trading Levels

Buy Above 19472 Tgt 19499, 19529 and 19575 (  Nifty Spot Levels)

Sell Below 19400 Tgt 19375, 19345 and 19312  ( 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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