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 23612 contracts worth 2567 crores, resulting in an decrease of 8090 contracts in the Net Open Interest.
Nifty failed to close above 22115 which was Mercury Ingress High, As Discussed in below Video Mercury Ingress Leads to trend change, Now Bears need to close below 21963 for a move towards 21715.
Nifty had biggest decline after May 2020 failing 4.3% in single trading session all thanks to HDFC bank, We had a discssuion how astro and gann cycle combination can lead to a big move. Fall was Brutal and tommrow we can have another decline in open as HDFC is trading another 6% down. 21322 is level to be watched out for.
Nifty Trade Plan for Positional Trade ,Bulls will get active above 21481 for a move towards 21555/21629. Bears will get active below 21408 for a move towards 21334/21260
Traders may watch out for potential intraday reversals at 09:15,11:02,12:18,1:22,2:27 How to Find and Trade Intraday Reversal Times
Nifty Jan Futures Open Interest Volume stood at 1.11 lakh cr , witnessing a liquidation of 10 Lakh contracts. Additionally, the increase in Cost of Carry implies that there was a closure of LONG positions today.
Nifty Advance Decline Ratio at 10:40 and Nifty Rollover Cost is @21719 closed above it.
Nifty Gann Monthly Trend Change Level : 21749– CLosed below it.
Nifty bounced from its 20 DMA @21628 ,Now 21440 gone can see fall towards 21146
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 21600 strike, followed by 21700 strikes. On the put side, the highest OI is at the 21400 strike, followed by 21300 strikes. This suggests that the market participants are expecting Nifty 50 to remain range between 21300-21600 levels.
In the cash segment, Foreign Institutional Investors (FII) sold 10578 crores, while Domestic Institutional Investors (DII) bought 4006 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 21146-21775-22404 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.
My trading guru most important life lessons. Aviod Shorting PE U WILL GET AN EXIT IF YOU Short CE BUT PE short just 1 trade can wipe away all your profits for full year. Today was a day remmber his lessons..
For Positional Traders, The Nifty Futures’ Trend Change Level is At 21804 . 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 21720 , Which Acts As An Intraday Trend Change Level.
Upper End of Expiry : 21576
Lower End of Expiry : 21223
Nifty Intraday Trading Levels
Buy Above 21481 Tgt 21512, 21555 and 21610 ( Nifty Spot Levels)
Sell Below 21408 Tgt 21366, 21323 and 21260 (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.