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 122216 contracts worth 1277 crores, resulting in an increase of 12266 contracts in the Net Open Interest.
Nifty gave a perfect upmove based on the breakout above 19875 Tommrow we will Monthly expiry and MSCI Rebalnacing so last 45 mins we will see big move.
Nifty has experienced an exponential rise following the state election results, with the price closing above its 1×2 Gann angle, as depicted in the chart below. The current upmove from 19,800 to 20,864 reflects a rally of 1,064 points in just 5 trading sessions. Tomorrow, two aspects involving Mercury and Venus, both impacting Nifty – Mercury Trine Neptune and Venus Trine Pluto – suggest that the high and low within the first 15 minutes will guide the day. Bulls will likely make strong efforts to defend the 20,817 level. Once breached, we may witness a decline towards the 20,700-20,729 range.”
Nifty Trade Plan for Positional Trade ,Bulls will get active above 20865 for a move towards 20937/21009. Bears will get active below 20794 for a move towards 20722/20651/20576.
Traders may watch out for potential intraday reversals at 9:55, 12:55,1:31,2:22 How to Find and Trade Intraday Reversal Times
Nifty Dec Futures Open Interest Volume stood at 1.08 lakh cr , witnessing a addition of 3.3 lakh contracts. Additionally, the increase in Cost of Carry implies that there was a addition of LONG positions today.
Nifty Advance Decline Ratio at 33:16 and Nifty Rollover Cost is @20223 closed above it.
Nifty Gann Monthly Trend Change Level : 20729
Nifty has closed above all short term moving averges Trend is Buy on dips till we are holding above 20729.
Nifty options chain shows that the maximum pain point is at 20900 and the put-call ratio (PCR) is at 1.05 . 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 20900 strike, followed by 21000 strikes. On the put side, the highest OI is at the 20800 strike, followed by 20500 strikes. This suggests that the market participants are expecting Nifty 50 to remain range between 20600-20900 levels.
In the cash segment, Foreign Institutional Investors (FII) bought 5223 crores, while Domestic Institutional Investors (DII) bought sold 1399 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 20014-20609-21205This 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.
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 Nifty Futures’ Trend Change Level is At 20547 . 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 20884, Which Acts As An Intraday Trend Change Level.
Nifty Intraday Trading Levels
Buy Above 20125 Tgt 20150, 20175 and 20222 ( Nifty Spot Levels)
Sell Below 20074 Tgt 20050, 20025 and 20000 ( 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.