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.
We have seen Impact of Double Ingress of Sun and Pluto as discussed in below Video. We saw a big crack in PSU bank, Today we had Venus Ingress and first 15 mins low was broken and we saw the big decline. Price is back to its Gann Angle support zone. 200 DMA is coming at 19907 and Gann Annual Trend Change level is 19882 so keep a watch on both levels.
Finance Nifty Trade Plan for Positional Trade ,Bulls will get active above 20235 for a move towards 20307/20378. Bears will get active below 20092 for a move towards 20020/19949
Traders may watch out for potential intraday reversals at 09:35,10:27,11:16,12:21,1:57 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 03:16
Finance Nifty Rollover Cost is @20669 closed below it.
Finance Nifty Gann Annual Trend Change Level : 19882
Finance Nifty has broken its 100 DMA @20181 Heading towards its 200 DMA@19907
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 20200 strike, followed by the 20300 strike. On the put side, the 20100 strike has the highest OI, followed by the 20000 strike. This indicates that market participants anticipate Finance Nifty to stay within the 20000-20400 range.
The Finance Nifty options chain shows that the maximum pain point is at 20200 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.
Those who rid themselves of their egos are rewarded greatly. They are the superstars of their fields. In the market, rewards come in the form of profits. In the world of art, masterpieces are the results. In sports, the players are all-stars and command enormous salaries. Every pursuit has its own manifestation of victory over the ego.
For Positional Traders, The Finance Nifty Futures’ Trend Change Level is At 20558 . 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 20558 , Which Acts As An Intraday Trend Change Level.
Finance Nifty Intraday Trading Levels
Buy Above 20166 Tgt 20200, 20233 and 20275 ( Finance Nifty Spot Levels)
Sell Below 20108 Tgt 20066, 20033 and 20000 ( 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.