Finance Nifty Price bounced from 20248 Octave points and has also filled the State Election gap, Today is another important Solar Eclipse Time cycle date so watch for first 15 mins High and Low to ride the trend for the day.
Finance Nifty will wait for ICICI Bank and KOtak Bank Results. RBL did not came up with good set of results with increase in slippages. Today we have Sun Ingress so PSU back shoould be tracked. 21 We have Pluto Ingress suggesting we will see Double Ingress and Tuesday will be very crucial. Volume will be less today so we can see spike in market at intraday times.
Finance Nifty Trade Plan for Positional Trade ,Bulls will get active above 20407 for a move towards 20479/20550. Bears will get active below 20336 for a move towards 20265/20194
Traders may watch out for potential intraday reversals at 09:23,10:21,12:36,01:41,2:13 How to Find and Trade Intraday Reversal Times
Finance Nifty Jan Futures Open Interest Volume stood at 84480 with liquidation of 8000 contracts. Additionally, the increase in Cost of Carry implies that there was a liquidation of LONG positions today.
Finance Nifty Decline Ratio at 14:05
Finance Nifty Rollover Cost is @21524 closed below it.
Finance Nifty Gann Monthly Trend Change Level : 21363
Finance Nifty has support at 100 DMA @20234 Resistance at 20725.
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 21182-20587-19992 . 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 20500 strike, followed by the 20600 strike. On the put side, the 20400 strike has the highest OI, followed by the 20200 strike. This indicates that market participants anticipate Finance Nifty to stay within the 20600-20200 range.
The Finance Nifty options chain shows that the maximum pain point is at 20400 and the put-call ratio (PCR) is at 0.70. Typically, when the PCR open interest ranges between 0.90 and 1.05, the market tends to remain range-bound.
There is a paralysis that sets in when the losses begin to mount. These losses are much too much for the ego to admit. It would rather deny and postpone judgment day than face the truth.
For Positional Traders, The Finance Nifty Futures’ Trend Change Level is At 20824. 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 20536, Which Acts As An Intraday Trend Change Level.
Finance Nifty Intraday Trading Levels
Buy Above 20450 Tgt 20488, 20512 and 20555 ( Finance Nifty Spot Levels)
Sell Below 20400 Tgt 20385, 20343 and 20312 ( 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.