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 9328 contracts worth 1030 crores, resulting in an increase of 8670 contracts in the Net Open Interest.
Today were 2 Important astro date and Solar Eclipse time cycle date so carry overnight position tommrow with hedge. Nifty has formed anotehr DOJI tommrow will be a classisc Fight between IT stocks and Bank Nifty as INfy will be up and to adjust that Banking stocks and Reliance will take a beating. Nifty has closed below Gann MOnthly TC level of 21650.
US CPI data came hotter and US Intrest Rate in March probablity is down to just 30%.
CPI 0.3% MoM, Exp. 0.2% CPI 3.4% YoY, Exp. 3.2%
CPI Core 0.3% MoM, Exp. 0.3% CPI Core 3.9% YoY, Exp. 3.8%
Nifty has closed above its 20 SMA and now for Bulls to sustain for this uptrend need to close above Monday High 22115 as its High of Solar Eclipse TIme cycle and Mercury Ingress. Today we have HDFC Bank Results which will come during market hours so be ready for a voaltile move.
Nifty Trade Plan for Positional Trade ,Bulls will get active above 22157 for a move towards 22230/22304. Bears will get active below 22083 for a move towards 22009/21936.
Traders may watch out for potential intraday reversals at 10:00,11:02,12:51,1:31,2:17 How to Find and Trade Intraday Reversal Times
Nifty Jan Futures Open Interest Volume stood at 1.23 lakh cr , witnessing a addition of 4.5 Lakh contracts. Additionally, the increase in Cost of Carry implies that there was a addition of LONG positions today.
Nifty Advance Decline Ratio at 32:18 and Nifty Rollover Cost is @21719 closed below it.
Nifty Gann Monthly Trend Change Level : 21650 — CLosed above it.
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 22100 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 22200 strike, followed by 22300 strikes. On the put side, the highest OI is at the 22000 strike, followed by 21800 strikes. This suggests that the market participants are expecting Nifty 50 to remain range between 22000-22300 levels.
In the cash segment, Foreign Institutional Investors (FII) bought 1085 crores, while Domestic Institutional Investors (DII) bought 820 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 21791 . 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 22084, Which Acts As An Intraday Trend Change Level.
Nifty Intraday Trading Levels
Buy Above 22115 Tgt 22155, 22200 and 22555 ( Nifty Spot Levels)
Sell Below 22078 Tgt 22040, 22000 and 21952 (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.