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 4030 contracts worth 437 crores, resulting in an decrease of 2258 contracts in the Net Open Interest.
Nifty bounced from its gann angle and we saw the imapct of gann and astro cycle as discussed in below video. Till BUlls are holding 21430 Bulls have upper hand.
Nifty did a full U Turn price unable to close above 21750, VIX has touched 16 and next 2 days Volatility will be huge. Bulls need to protect 21430 for rally tommrow, Bears below 21400 can lead to fall towards the last swing low of 21137. Bulls need to move above 21630 for quick move towards 21750/21877. Tommrow we have Moon Declination which leads to voaltile move. We have Monthly close tommrow Bulls will like to close nears 21727 and Bears near 21411.
Nifty Trade Plan for Positional Trade ,Bulls will get active above 21591 for a move towards 21665/21739/21813 . Bears will get active below 21443 for a move towards 21370/21296/21222.
Traders may watch out for potential intraday reversals at 9:15,10:32,12:37,01:15,02:43 How to Find and Trade Intraday Reversal Times
Nifty Feb Futures Open Interest Volume stood at 1.12 lakh cr , witnessing a liquidation of 11.2 Lakh contracts. Additionally, the increase in Cost of Carry implies that there was a liquidation of LONG positions today.
Nifty Advance Decline Ratio at 16:34 and Nifty Rollover Cost is @21592 closed below it.
Nifty Gann Monthly Trend Change Level : 21749– CLosed below it.
Nifty has closed below its 20 DMA 21621
Nifty options chain shows that the maximum pain point is at 21600 and the put-call ratio (PCR) is at 0.90. 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 21700 strike, followed by 21800 strikes. On the put side, the highest OI is at the 21500 strike, followed by 21400 strikes. This suggests that the market participants are expecting Nifty 50 to remain range between 21300-21800 levels.
In the cash segment, Foreign Institutional Investors (FII) sold 1970 crores, while Domestic Institutional Investors (DII) bought 1002 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.
If you want to be a successful trader going through a loss making period You need to learn the art of losing.. If you condition your mind to lose without anxiety without emotional attachment and without desire to get even.. Things will start turning around for you.
For Positional Traders, The Nifty Futures’ Trend Change Level is At 21665. 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 21768, Which Acts As An Intraday Trend Change Level.
Nifty Intraday Trading Levels
Buy Above 21525 Tgt 21564, 21610 and 21666 ( Nifty Spot Levels)
Sell Below 21500 Tgt 21464, 21424 and 21385 (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.