Analysis of FIIs’ behavior in the Nifty Index Futures market shows a Bearish approach as they displayed a preference for SHORT positions. On a net basis, FIIs went SHORT 4730 contracts worth 513 crores, resulting in an increase of 3028 contracts in the Net Open Interest.
Mars has shown its impact we saw a big move in Nifty, Nifty opened above 21555 so bears were on backhand from the opening and Mars added fuel to fire. TIll Bulls are holding 21555 Nifty is moving towards its all time high towards 21755/21834.Bears only have chance once below 21555.
Gann Aniversary showed its impact on Nifty as discussed in below video, with price seeing a impulsive correction and forming Outsdie Bar Pattern, Last Week low was 21500 and price is near it .if today also its sustain below it we can see decline of 200-323 points in remaing part of the week. Today we will open gap up so 21700-21729 range is crucial for bulls to sustain above it, Unable to do so we can see gap filling.
Nifty Trade Plan for Positional Trade ,Bulls will get active above 21700 for a move towards 21760/21834 . Bears will get active below 21612 for a move towards 21538/21464
Traders may watch out for potential intraday reversals at 10:29,11:37,1:18,1:57 How to Find and Trade Intraday Reversal Times
Nifty Jan Futures Open Interest Volume stood at 1.17 lakh cr , witnessing a liquidation of 1 Lakh contracts. Additionally, the increase in Cost of Carry implies that there was a closure of LONG positions today.
Nifty Advance Decline Ratio at 13:37 and Nifty Rollover Cost is @21719 closed below it.
Nifty Gann Monthly Trend Change Level : 21727
Nifty is making lower low and heading towards 20 DMA @21425
Nifty options chain shows that the maximum pain point is at 21700 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.
Nifty 50 Options Chain Analysis
The Nifty 50 options chain indicates that the highest open interest (OI) on the call side is at the 21700 strike, followed by 21800 strikes. On the put side, the highest OI is at the 21500 strike, followed by 21400 strikes. This suggests that the market participants are expecting Nifty 50 to remain range between 21400-21700 levels.
In the cash segment, Foreign Institutional Investors (FII) bought 16 crores, while Domestic Institutional Investors (DII) bought 155 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 20552-21146-21775 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.
Don’t be afraid to ask for help. If you’re struggling with trading, don’t be afraid to ask for help from a more experienced trader. There are many resources available to help you improve your trading skills.
For Positional Traders, The Nifty Futures’ Trend Change Level is At 21787. 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 21670, Which Acts As An Intraday Trend Change Level.
Nifty Intraday Trading Levels
Buy Above 21688 Tgt 21712, 21743 and 21799 ( Nifty Spot Levels)
Sell Below 21625 Tgt 21590, 21555 and 21512 (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.