Analysis of FIIs’ behavior in the Nifty Index Futures market shows a Bullish approach as they displayed a preference for LONG positions. On a net basis, FIIs went LONG 5346 contracts worth 575 crores, resulting in an decrease of 14728 contracts in the Net Open Interest.
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. 50 DMA is coming at 20957 and 20481 isGannOctavePoint.
NIfty has bounced from its Gann Angle Today we have Full Moon and Weekly closing and Monthly expiry. We will again see Volatile move due to Lunar cycle. Again watch for first 15 mins HIgh and Low to capture trend for the day, Intraday traders watch out for 12:18 for a trend change. 21433 is Gann Octave Point for the day.
Nifty Trade Plan for Positional Trade ,Bulls will get active above 21500 for a move towards 21573/21646 . Bears will get active below 21428 for a move towards 21355/21282
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
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 39:11 and Nifty Rollover Cost is @21719 closed below it.
Nifty Gann Monthly Trend Change Level : 21749– CLosed below it.
Nifty 20 DMA @21650-21662 act as resistance now Support at 50 DMA @20957
Nifty options chain shows that the maximum pain point is at 21400 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 21400 strike, followed by 21500 strikes. On the put side, the highest OI is at the 21100 strike, followed by 21000 strikes. This suggests that the market participants are expecting Nifty 50 to remain range between 21200-21500 levels.
In the cash segment, Foreign Institutional Investors (FII) sold 6934 crores, while Domestic Institutional Investors (DII) bought 6012 crores. FII sold 34765 cores in 6 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 20636-21232-21864 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.
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 Nifty Futures’ Trend Change Level is At 21405. 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 21355, Which Acts As An Intraday Trend Change Level.
Nifty Expiry Range
Upper End of Expiry : 21584
Lower End of Expiry : 21261
Nifty Intraday Trading Levels
Buy Above 21456 Tgt 21485, 21525 and 21584 ( Nifty Spot Levels)
Sell Below 21399 Tgt 21357, 21312 and 21261 (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.