November 29,2023 Finance Nifty Trade Set up

By | November 28, 2023 8:56 pm

As Discussed in Last Analysis

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 is trading above its Sun and Mars Ingress High suggesting BUlls are having upper hand till Bulls are holding 19610-19636 range.

Finance Nifty Trade Plan for Positional Trade ,Bulls will get active above 19746 for a move towards 19816/19885/19955 . Bears will get active below 19676 for a move towards 19606/19537/19467.

 Traders may watch out for potential intraday reversals at 9:34, 10:25,11:16,1:40,2:34  How to Find and Trade Intraday Reversal Times

Finance Nifty Nov Futures Open Interest Volume stood at 62000 with addition of 39440 contracts. Additionally, the decrease in Cost of Carry implies that there was a addition of LONG positions today.

Finance Nifty Advance Decline Ratio at 14:05, Finance Nifty Rollover Cost is @19799 closed above it.

Bank Nifty Gann Monthly Trend Change Level : 19326 

Finance Nifty has closed above its 50/100/200 DMA, 20 SMA will act as Resistance @19837


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 19750 strike, followed by the 19800 strike. On the put side, the 19600 strike has the highest OI, followed by the 19550 strike.  This indicates that market participants anticipate Finance  Nifty to stay within the 19600-19800 range. 

The Finance Nifty options chain shows that the maximum pain point is at 19700 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.

My advice to any new traders is to seek a mentor who will offer you trading skills that will allow you to adapt to any market. What works one month may not work the next. But with fully developed trading skills, you can make the necessary adjustments.

For Positional Traders, The Finance Nifty Futures’ Trend Change Level is At 19870  . 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 19870 , Which Acts As An Intraday Trend Change Level.

Finance  Nifty Intraday Trading Levels

Buy Above 19750 Tgt 19788, 19824 and 19848 ( Finance Nifty Spot Levels)

Sell Below 19690 Tgt 19666, 19633  and 19610 ( 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.

Leave a Reply