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 435 contracts worth 41.84 crores, resulting in an decrease of 3177 contracts in the Net Open Interest.
We saw a panic decline in market at 2:47 as discussed in below video and price forming a double top near last swing high of 19850, Tommrow also we have a MARS aspect as discussed in below video so expect another volatile move tommrow also.
Nifty has formed multiple Inside Bars. The last time this occurred was on 01/02 Sep 2022. We have a Gann Natural Date approaching, and also, the Sun Ingress and Bayer’s Rule will come into effect tomorrow, 22 Nov. The VIX also saw an uptick above 12 after many days. The market is preparing itself for a trending move as both Gann and astro cycles are converging. We have shared swing levels below.
Nifty Trade Plan for Positional Trade ,Bulls will get active above 19789 for a move towards 19859/19929. Bears will get active below 19719 for a move towards 19649/19579.
Traders may watch out for potential intraday reversals at 9:31, 11,1:45,2:21 How to Find and Trade Intraday Reversal Times
Nifty Nov Futures Open Interest Volume stood at 1.01 lakh cr , witnessing a liquidation of 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 31 :19 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 . Below 19650 move towards 19410
Nifty options chain shows that the maximum pain point is at 19700 and the put-call ratio (PCR) is at 0.91. 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 19600-19800 levels.
In the cash segment, Foreign Institutional Investors (FII) sold 645 crores, while Domestic Institutional Investors (DII) sold 565 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 19419 . 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 19761, Which Acts As An Intraday Trend Change Level.
Nifty Intraday Trading Levels
Buy Above 19729 Tgt 19763, 19799 and 19848 ( Nifty Spot Levels)
Sell Below 19666 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.