Finance Nifty 09 Feb Trade Plan Post RBI Policy

By | February 9, 2024 8:38 am

As Discussed in Last Analysis

Finance Nifty has formed Double NR7 pattern and took support at Octave Point @20248. Price is holding both 100 SMA Octave point and closed above Mercury INgress low, WIth RBI Policy on 08 Feb price can consolidate more in mercury ingress range before making decisive move  above  20458 on upside pr 20248 on downside. IN Between see saw will continue.

Finance NIfty broke the mercury ingress low and closed below its 1×1 gann angle. Price has broken 50% octave point and is now near its 200 DMA @20000. Price has already touched 200 DMA 3 times in last 1 month. Break of 200 DMA can lead to selling towards 19729. Price has done 72 trading days from 26 Oct low leading to perfect gann price time squaring. Today is NEW MOON so first 15 mins High and Low will guide for thee day.

Finance Nifty Trade Plan for Positional Trade ,Bulls will get active above 20400 for a move towards 20458/20555/20666/20755. Bears will get active below 20300 for a move towards 20229/ 20161/20061/19962. — Waiting for 19962

 Traders may watch out for potential intraday reversals at 09:36/10:49,11:24,12:18,2:34 How to Find and Trade Intraday Reversal Times

Finance Nifty Feb Futures Open Interest Volume stood at 81400 with liquidation of 5200 contracts. Additionally, the increase in Cost of Carry implies that there was a covering of LONG positions today.

Finance Nifty Decline Ratio at 03:16

Finance Nifty Rollover Cost is @20308 closed above it.

Finance Nifty Gann Monthly  Buy Trade level : 20683 and Gann Monthly  Sell Trade level : 20428 –— Closed below 20428

Finance Nifty rejected from 100/50/20 SMA @20648,. Strong support at 20000 at 200 SMA.



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 20100 strike, followed by the 20200  strike. On the put side, the 20000 strike has the highest OI, followed by the 19900 strike.  This indicates that market participants anticipate Finance  Nifty to stay within the 19900-20100 range. 

The Finance Nifty options chain shows that the maximum pain point is at 20000 and the put-call ratio (PCR) is at 0.80. Typically, when the PCR open interest ranges between 0.90 and 1.05, the market tends to remain range-bound.

If you want to be a good trader “Be the Best Listener.” Listen To Market, Experienced Traders. If a losing trade sets you off, then this can affect your trades going forward. And this is dangerous. We call this trading on “tilt.”

For Positional Traders, The Finance Nifty Futures’ Trend Change Level is At 20478. 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 20031, Which Acts As An Intraday Trend Change Level.

Finance  Nifty Intraday Trading Levels

Buy Above 20100 Tgt 20137, 20166 and 20199 ( Finance Nifty Spot Levels)

Sell Below 20020 Tgt 19985, 19930 and 19876 ( 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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