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 2038 contracts worth 200 crores, resulting in an increase of 5670 contracts in the Net Open Interest.
Nifty is at its 40 trading days from 15 Sep High of 20222 simple gann technique as discussed in below video. Bulls need to close above 19555 today for upmove to continue towards 19729/19850. Watch out for first 15 mins high and low to capture trend for the day.
Two Important Aspect are forming tommrow Mars YOD North Node and Venus YOD Jupiter, North Node will lead to volatlity in the market. We have arrived on this aspect and when examining the Mars North Node aspects, which are also referred to as the panic cycle, it typically does not result in an immediate shift in trend. There are instances where the opposition leads to a change in trend, but sometimes it takes a while before the downtrend takes hold. This is because there may be other factors contributing to the stock or index rising. It’s usually a combination of planetary cycles that can determine a change in market trend.
Nifty is back to its 62.5% Gann Retracement and 19683 important gann number.
Nifty Trade Plan for Positional Trade ,Bulls will get active above 19701 for a move towards 19763/19832. Bears will get active below 19623 for a move towards 19554/19484.
Traders may watch out for potential intraday reversals at 9:29, 11:22,12:22,1:24,2:45 How to Find and Trade Intraday Reversal Times
Nifty Nov Futures Open Interest Volume stood at 1.13 lakh cr , witnessing a addition of 3.6 lakh contracts. Additionally, the increase in Cost of Carry implies that there was a closeure of LONG positions today.
Nifty Advance Decline Ratio at 47:03 and Nifty Rollover Cost is @19372 closed below it.
Nifty Gann Monthly Trend Change Level : 19224
Nifty has closed above all short term moving averges . Bulls need a daily close above 19683 for a move towards 19850.
Nifty options chain shows that the maximum pain point is at 19700 and the put-call ratio (PCR) is at 0.95. 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 19600 strike, followed by 19700 strikes. On the put side, the highest OI is at the 19500 strike, followed by 19400 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) bought 550 crores, while Domestic Institutional Investors (DII) bought 609 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 19343. 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 19706, Which Acts As An Intraday Trend Change Level.
Nifty Expiry Range
Upper End of Expiry : 19815
Lower End of Expiry : 19584
Nifty Intraday Trading Levels
Buy Above 19701 Tgt 19729, 19763 and 19800 ( Nifty Spot Levels)
Sell Below 19660 Tgt 19636, 19601 and 19576 ( 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.