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 8579 contracts worth 936 crores, resulting in an increase of 8711 contracts in the Net Open Interest.
Nifty continue to trade below 21952 another gap up above 22000 got sold into and price is still in mercury ingress range from last 3 trading session. Tommrow RBI Policy will come at 10 AM,Trade after 11 AM, we will see volatile move in last 1 hour tommrow. 09 Feb is New Moon day so we can start new trend on Friday.
Nifty broke the mercury ingress low and closed near its 20 DMA. Price is near it 50% octave point @20630. Price has done 72 trading days from 26 Oct low and closed below 21952 leading to perfect gann price time squaring. Today is NEW MOON so first 15 mins High and Low will guide for thee day.
Nifty Trade Plan for Positional Trade ,Bulls will get active above 21756 for a move towards 21830/21904/21979 . Bears will get active below 21682 for a move towards 21607/21533/21459.
Traders may watch out for potential intraday reversals at 09:18,11:16,12:09,2:40 How to Find and Trade Intraday Reversal Times
Nifty Feb Futures Open Interest Volume stood at 1.22 lakh cr , witnessing a addition of 1.79 Lakh contracts. Additionally, the increase in Cost of Carry implies that there was a addition of SHORT positions today.
Nifty Advance Decline Ratio at 15:35 and Nifty Rollover Cost is @21592 closed above it.
Nifty Gann Monthly Buy Trade level : 21915 and Gann Monthly Sell Trade level : 21646 — 21915 closed above it.
Nifty has closed above its above DMA 21691
Nifty options chain shows that the maximum pain point is at 21650 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 21700 strike, followed by 21800 strikes. On the put side, the highest OI is at the 21600 strike, followed by 21500 strikes. This suggests that the market participants are expecting Nifty 50 to remain range between 21500-21800 levels.
In the cash segment, Foreign Institutional Investors (FII) sold 4933 crores, while Domestic Institutional Investors (DII) bought 5512 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 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 Nifty Futures’ Trend Change Level is At 21831. 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 21897, Which Acts As An Intraday Trend Change Level.
Nifty Intraday Trading Levels
Buy Above 21758 Tgt 21798, 21830 and 21864 ( Nifty Spot Levels)
Sell Below 21650 Tgt 21610, 21576 and 21529 (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.