November 23,2023 Finance Nifty Trade Set up

By | November 23, 2023 12:45 am

As Discussed in Last Analysis

Finance Nifty has formed Inside Bar near gann angle. 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.

Finance Nifty broke the first 15 minutes low, experiencing a noticeable decline in response to the convergence of Gann and astro cycles, as discussed in the video below. Over the next two days, breaking today’s high and low is essential for signaling a potential trending move. The price has been struggling around the Gann angle, as illustrated in the chart below, with a tendency to move away from this key angle.

Finance Nifty Trade Plan for Positional Trade ,Bulls will get active above 19620 for a move towards 19666/19729 . Bears will get active below 19525 for a move towards 19467/19410/19326. 

 Traders may watch out for potential intraday reversals at 9:17, 10:51,11:40,12:57,2:13  How to Find and Trade Intraday Reversal Times

Finance Nifty Nov Futures Open Interest Volume stood at 71520 with liquidation of 6680 contracts. Additionally, the decrease in Cost of Carry implies that there was a closeure of SHORT positions today.

Finance Nifty Advance Decline Ratio at 09:10, Finance Nifty Rollover Cost is @19275 closed above it.

Bank Nifty Gann Monthly Trend Change Level : 19326 

Finance Nifty has closed below 50/100 DMA, Break of 19420 –20 SMA quick fall towards 19326/19287


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.  

According to the Finance Nifty options chain, the call side has the highest open interest (OI) at the 19550 strike, followed by the 19650 strike. On the put side, the 19450 strike has the highest OI, followed by the 19400 strike.  This indicates that market participants anticipate Finance  Nifty to stay within the 19400-19600 range. 

The Finance Nifty options chain shows that the maximum pain point is at 19550 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.

As traders, we should spend each day stepping outside of our comfort zone so we improve.

For Positional Traders, The Finance Nifty Futures’ Trend Change Level is At 19547 . 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 19576 , Which Acts As An Intraday Trend Change Level.

Finance  Nifty Intraday Trading Levels

Buy Above 19576 Tgt 19600, 19632 and 19683 ( Finance Nifty Spot Levels)

Sell Below 19529 Tgt 19505, 19476  and 19444 ( Finance 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.

Category: Finance NIfty Daily Analysis

About Bramesh

Bramesh Bhandari has been actively trading the Indian Stock Markets since over 15+ Years. His primary strategies are his interpretations and applications of Gann And Astro Methodologies developed over the past decade.

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