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 8576 contracts worth 220 crores, resulting in an increase of 3272 contracts in the Net Open Interest.
Tommrow we have important Bayer Rule 9: Big changes on market are when Mercury passes over 19 degrees 36 minutes of Scorpio and Sagittarius,also over 24 degrees 14 minutes of Capricorn. Nifty bounced from gann angle support zone as shown in below chart. Tommrow to capture trend focus on first 15 mins High and low to capture trend. Make sure trade with right positon size as we will have high volatlity. Also try to trade after Finance Minister stops speaking and we will see option premium decay after FM completes its speech. Betwenn 1-1:15 we can see change in trend.
Nifty formed DOJI on Budget day and we will open gap up today. With Goverment saying they will borrow less and bond yields are coming down its good for PSU’s bank. With gap up today 21950 is important level to watch out for, for this downtrend to get over. Monday Mercury is changing sign so take overnight positon with Hedge.
Nifty Trade Plan for Positional Trade ,Bulls will get active above 21815 for a move towards 21888/21961/22034 . Bears will get active below 21750 for a move towards 21688/21595/21522/21448.
Traders may watch out for potential intraday reversals at 09:23,10:39,11:37,12:30,2:23 How to Find and Trade Intraday Reversal Times
Nifty Feb Futures Open Interest Volume stood at 1.13 lakh cr , witnessing a addition of 0.95 Lakh contracts. Additionally, the increase in Cost of Carry implies that there was a addition of LONG positions today.
Nifty Advance Decline Ratio at 46:04 and Nifty Rollover Cost is @21592 closed above it.
Nifty Gann Monthly Trend Change Level : 21749– CLosed below it.
Nifty has closed below its above DMA 21633
Nifty options chain shows that the maximum pain point is at 21800 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 21800 strike, followed by 22000 strikes. On the put side, the highest OI is at the 21500 strike, followed by 21300 strikes. This suggests that the market participants are expecting Nifty 50 to remain range between 21300-22000 levels.
In the cash segment, Foreign Institutional Investors (FII) sold 1879 crores, while Domestic Institutional Investors (DII) bought 872 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.
Studies show that traders avoid risk when winning and seek risk when losing. This is the exact opposite of what needs to done to sustain in the markets. We must reprogram ourselves and create habits that are unnatural until they become our second nature.
Nifty Intraday Trading Levels
Buy Above 21950 Tgt 21980, 22022 and 22056 ( Nifty Spot Levels)
Sell Below 21900 Tgt 21864, 21824 and 21750 (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.