Sun Ingress : Nifty 20 Jan Trade Plan

By | January 20, 2024 8:56 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 6435 contracts worth 697 crores, resulting in an decrease of 7155 contracts in the Net Open Interest.

As Discussed in Last Analysis

NIfty Price bounced near 21322  Octave point and took support at the Election Gap on 01 Dec, 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.

Nifty will react to HUL and Reliance results which were both below par. 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.

Nifty Trade Plan for Positional Trade ,Bulls will get active above 21630 for a move towards 21688/21750 . Bears will get active below 21575 for a move towards 21500/21444

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

Nifty Jan Futures Open Interest Volume stood at 1.11 lakh cr , witnessing a addition of 0.82 Lakh  contracts. Additionally, the increase in Cost of Carry implies that there was a addition of LONG positions today.

Nifty Advance Decline Ratio at 41:09  and Nifty Rollover Cost is @21719 closed above it.

Nifty Gann Monthly Trend Change Level : 21749– CLosed below it.

Nifty 20 DMA @21650-21662 act as resistance now 

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 3689 crores, while Domestic Institutional Investors (DII) bought 2638 crores. FII sold 24169 cores in 3 trading session

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.

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 Nifty Futures’ Trend Change Level is At 21560  . 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 21651 , Which Acts As An Intraday Trend Change Level.

Nifty Intraday Trading Levels

Buy Above 21670 Tgt 21700, 21729  and 21756 ( Nifty Spot Levels)

Sell Below 21610 Tgt 21575, 21530 and 21500 (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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