Finance Nifty experienced a substantial pullback, with prices nearly retracing 50% of the entire decline. Bulls aim to surpass the 21350 level for a potential move towards the all-time high. On the weekly chart, the open equaled the high, indicating a critical level. Bears could assert control if the index falls below 20300, particularly in the last hour, according to the discussed levels.
Today marks Bayer Rule 22: a trend shift occurs when retrograde Mercury crosses over the Sun. With Sun Conjunct Rx Mer and Sun Conjunct Mercury, involving two aspects of Mercury, we anticipate another volatile market move. Intraday traders should monitor the first 15 minutes’ high and low to capture the day’s trend
Mercury and Jupiter both have turned direct as discuused in below video, Mercury is moving in Sagittarius. Today we have Moon Declination which is very important as discussed in below video. Intrdaay traders can use first 15 mins High and low to trade.
Finance Nifty Trade Plan for Positional Trade ,Bulls will get active above 21406 for a move towards 21480/21553. Bears will get active below 21259 for a move towards 21186/21112
Traders may watch out for potential intraday reversals at 10:00,11:35,12:01,1:41,2:20 How to Find and Trade Intraday Reversal Times
Finance Nifty Nov Futures Open Interest Volume stood at 80360 with addition of 18840 contracts. Additionally, the idecrease in Cost of Carry implies that there was a addition of SHORT positions today.
Finance Nifty Advance Decline Ratio at 08:11, Finance Nifty Rollover Cost is @21524 closed below it.
Finance Nifty Gann Monthly Trend Change Level : 21361
Finance Nifty is near its 20 SMA @21301
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 20587-21182-21812 . 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 21300 strike, followed by the 21400 strike. On the put side, the 21200 strike has the highest OI, followed by the 21100 strike. This indicates that market participants anticipate Finance Nifty to stay within the 21100-21400 range.
The Finance Nifty options chain shows that the maximum pain point is at 21350 and the put-call ratio (PCR) is at 0.85. Typically, when the PCR open interest ranges between 0.90 and 1.05, the market tends to remain range-bound.
Traders always aim for holy grail in trading. They think that will be the answer for all their hardships they are facing because of trading financial markets.
For Positional Traders, The Finance Nifty Futures’ Trend Change Level is At 21581 . 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 21500 , Which Acts As An Intraday Trend Change Level.
Finance Nifty Intraday Trading Levels
Buy Above 21360 Tgt 21395, 21424 and 21450 ( Finance Nifty Spot Levels)
Sell Below 21312 Tgt 21285, 21250 and 21225 ( 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.