Navigating the Mercury Ingress: Finance Nifty Trade Plan for 05 Feb

By | February 3, 2024 11:57 pm

As Discussed in Last Analysis

Finance Nifty formed an inside bar and NR7 pattern 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 20752 is important level to watch out for, for this downtrend to get over. Monday Mercury is changing sign so take overnight positon with Hedge.

Finance Nifty reacted from the 20816 Gann Level and 20750 Octave Points and was unable to close above its 20/50 SMA, suggesting selling pressure on the higher side. SBI’s numbers came out today, but we are seeing NIM being impacted, similar to HDFC Bank. On Monday, we have Mercury Ingress, which generally leads to a trend change. January 15th was also a Mercury Ingress, and we have seen how Finance Nifty made a short-term top. For intraday trading, watch out for the first 15 minutes high and allow it to capture the trend of the day.

Finance Nifty Trade Plan for Positional Trade ,Bulls will get active above 20456 for a move towards 20528/20601/20673. Bears will get active below 20384 for a move towards 20312/20340.

 Traders may watch out for potential intraday reversals at 10:25,11:38,12:19,01:45,2:38 How to Find and Trade Intraday Reversal Times

Finance Nifty Feb Futures Open Interest Volume stood at 77840  with liquidation of 4400 contracts. Additionally, the increase in Cost of Carry implies that there was a closeure of LONG positions today.

Finance Nifty Decline Ratio at 11:08

Finance Nifty Rollover Cost is @20308 closed above it.

Finance Nifty Gann Monthly  Buy Trade level : 20683 and Gann Monthly  Sell Trade level : 20428

Finance Nifty rejected from 50/20 SMA @20754,. Strong support at 20290.




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.

According to the Finance Nifty options chain, the call side has the highest open interest (OI) at the 20500 strike, followed by the 20600  strike. On the put side, the 20300 strike has the highest OI, followed by the 20200 strike.  This indicates that market participants anticipate Finance  Nifty to stay within the 20200-20600 range. 

The Finance Nifty options chain shows that the maximum pain point is at 20500 and the put-call ratio (PCR) is at 0.82. Typically, when the PCR open interest ranges between 0.90 and 1.05, the market tends to remain range-bound.

We donít have to beat the market. The market will give us what we earn. Just open up those egoless eyes and listen to what the market wants to tell us, not what we want to tell the market.

For Positional Traders, The Finance Nifty Futures’ Trend Change Level is At 20556. 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 20713 , Which Acts As An Intraday Trend Change Level.


Finance  Nifty Intraday Trading Levels

Buy Above 20475 Tgt 20496, 20529 and 20565 ( Finance Nifty Spot Levels)

Sell Below 20400 Tgt 20369, 20333 and 20300 ( 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.

Category: Finance NIfty Daily Analysis

About Bramesh

Bramesh Bhandari has been actively trading the Indian Stock Markets since over 15+ Years. His primary strategies are his interpretations and applications of Gann And Astro Methodologies developed over the past decade.

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