Finance Nifty Fails to close above Mercury Ingress High, 17 Jan Trade Plan

By | January 17, 2024 8:24 am

As Discussed in Last Analysis

Finance Nifty has closed above its 20 SMA and now for Bulls to sustain for this uptrend need to close above Monday High 21500 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 in Fin Nifty Options.

Finance Nifty failed to close above 21500 which was Mercury Ingress High, As Discussed in below Video Mercury Ingress Leads to trend change, Now Bears need to close below 21333 for a move towards 21259/21186.


Finance Nifty Trade Plan for Positional Trade ,Bulls will get active above 21460 for a move towards 21531/21604/21676. Bears will get active below 21386 for a move towards 21313/21241. —  Price closed below 21460 now waiting for bears to break 21333 for a move towards 21259/21186/21112.

 Traders may watch out for potential intraday reversals at 09:27,11:40,12:25,1:27,2:54 How to Find and Trade Intraday Reversal Times

Finance Nifty Nov Futures Open Interest Volume stood at 77960 with liquidation of 840 contracts. Additionally, the increase in Cost of Carry implies that there was a closure of LONG positions today.

Finance Nifty Decline Ratio at 03:16

Finance Nifty Rollover Cost is @21524 closed below it.

Finance Nifty Gann Monthly Trend Change Level : 21363

Finance Nifty has closed above its 20 SMA @21358.


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.   Price is near 21182

According to the Finance Nifty options chain, the call side has the highest open interest (OI) at the 21500 strike, followed by the 21600 strike. On the put side, the 21400 strike has the highest OI, followed by the 21300 strike.  This indicates that market participants anticipate Finance  Nifty to stay within the 21300-21600 range. 

The Finance Nifty options chain shows that the maximum pain point is at 21400 and the put-call ratio (PCR) is at 0.90 . Typically, when the PCR open interest ranges between 0.90 and 1.05, the market tends to remain range-bound.

In a strongly  trending market the signals going with the trend often go for 5 to 8 days to  even weeks before giving another reversal. This is so simple, and yet few  traders are rich. That is because one of the HARDEST THINGS in all of trading is staying with a position until a clear reversal signal is given.

For Positional Traders, The Finance Nifty Futures’ Trend Change Level is At 21480. 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 21513, Which Acts As An Intraday Trend Change Level.

Finance  Nifty Intraday Trading Levels

Buy Above 21360 Tgt 21400, 21444 and 21488 ( Finance Nifty Spot Levels)

Sell Below 21300 Tgt 21270, 21230 and 21200 ( 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.

Category: Finance NIfty Daily Analysis

About Bramesh

Bramesh Bhandari has been actively trading the Indian Stock Markets since over 15+ Years. His primary strategies are his interpretations and applications of Gann And Astro Methodologies developed over the past decade.

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