Jan 11 2024 Nifty Weekly Expiry Analysis

By | January 11, 2024 9:04 am

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 2127 contracts worth 229 crores, resulting in an decrease of 1843 contracts in the Net Open Interest.

As Discussed in Last Analysis

Tommrow we have Moon Declination and SUN Square North Node Aspect, North Node will create voaltlity in the market so be ready for another voaltile move like today. Nifty has formed an Inside Bar and Price has still not broken 21500 last week low. We have seen Inside and Outisde bar combo in last 2 trading session so we should see a trending move in next 2 trading session.

We again saw a voaltile move yesterday with Rahu aka North Node creating voaltlity and nifty recovering in 2 session for the day lead by reliance industries, Price has bounced from its 20 DMA and previous week low of 21500 and today being New Moon and Bayer Rule 27: Big tops and big major bottoms are when Mercury’s speed in Geocentric longitude is 59 minutes or 1 degree 58 minutes. We will get INFY and TCS Results today so again we will see voaltile move and tommrow we can see a trending move. 21650 is gann monthly trend change level price need to sustain above it for 15 mins for bullishness to continue.

 

Nifty Trade Plan for Positional Trade ,Bulls will get active above 21666 for a move towards 21729/21800 . Bears will get active below 21555  for a move towards 21488/21412.

Traders may watch out for potential intraday reversals at 10:13,12:35,1:10,1:49,2:35  How to Find and Trade Intraday Reversal Times

Nifty Jan Futures Open Interest Volume stood at 1.14lakh cr , witnessing a liquidation of 2.2 Lakh  contracts. Additionally, the increase in Cost of Carry implies that there was a closure of LONG positions today.

Nifty Advance Decline Ratio at 23:27  and Nifty Rollover Cost is @21719 closed below it.

Nifty Gann Monthly Trend Change Level : 21650

Nifty bounced from its 20 DMA @21488, Till 21488 is held bulls have upperhand. 

 

Nifty options chain shows that the maximum pain point is at 21600 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) sold 1721 crores, while Domestic Institutional Investors (DII) bought 2080 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.

Understand the larger framework in which trading occurs—how the complexity of the marketplace and your personality both must be taken into account in order to develop the mastery of trading.

For Positional Traders, The Nifty Futures’ Trend Change Level is At 21762 . 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 21612 , Which Acts As An Intraday Trend Change Level.

 

Nifty Expiry Range

Upper End of Expiry : 21791

Lower End of Expiry : 21508

 

Nifty Intraday Trading Levels

Buy Above 21666 Tgt 21699, 21729 and 21777 ( Nifty Spot Levels)

Sell Below 21610 Tgt 21575, 21530 and 21508 (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.

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