Finance Nifty was unable to close above 1×3 gann angle and tommrow we have Mars Conjunct Pluto aspect which leads to major trend change and Solar Eclipse date which leads to big move as discussed below.Bulls need to protect 20000 which is 200 DMA after gap down. Bears need to break 19843 for a major down fall.
We have seen importance of Astro date and trading with price levels Finance Nifty held on to its 200 DMA and stage a smart recovery and again closed above its 1×2 gann angle. Mars being an energy plannets its adds fuel to fire. Now Bulls need to close above 20400 for upmove to continue. Bears can strike back if price breaks 20300. Trade cautiously as today also we can see wild swings like yesterday.
Finance Nifty Trade Plan for Positional Trade ,Bulls will get active above 20400 for a move towards 20453/20523. Bears will get active below 20311 for a move towards 20241/20170.
Traders may watch out for potential intraday reversals at 09:27,11:03,12:14,01:39,02:34 How to Find and Trade Intraday Reversal Times
Finance Nifty Feb Futures Open Interest Volume stood at 76200 with liquidation of 9640 contracts. Additionally, the increase in Cost of Carry implies that there was a closeure of SHORT positions today.
Finance Nifty Decline Ratio at 17:02
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 has again bounced from its 200 SMA@20026
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 21140-20529-19953 . 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 20400 strike, followed by the 20500 strike. On the put side, the 20200 strike has the highest OI, followed by the 20100 strike. This indicates that market participants anticipate Finance Nifty to stay within the 20200-20500 range.
The Finance Nifty options chain shows that the maximum pain point is at 20400 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.
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 20382 . 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 20181 , Which Acts As An Intraday Trend Change Level.
FIN Nifty Intraday Trading Levels
Buy Above 20400 Tgt 20424, 20450 and 20480 ( FIN Nifty Spot Levels)
Sell Below 20323 Tgt 20300, 20275 and 20250 (FIN 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.