Finance Nifty again had a volatile session but continue to trade above 1×2 gann angle and closed above its short term moving averages suggesting buying at lower levels. Today we have VENUS Ingress and Gann Important 16 Feb date, For Gann Students observe what has happened at 16 Feb in last 4 years you will get an idea on gann short term cycle. For Bears to come back price needs to go below 20363.
Finance Nifty has formed an NR21 pattern today, range of today was lowest in last 21 trading session, Today was Sun INgress and we formed a perfect doji. Price is near both Sun and Venus INgress levels suggesting price is ready for an explosive move on levels as mentioned below.
Finance Nifty Trade Plan for Positional Trade ,Bulls will get active above 20611 for a move towards 20684/20756. Bears will get active below 20466 for a move towards 20394/20321/20248.
Traders may watch out for potential intraday reversals at 10:02,11:08,12:50,2:26, 03:05 How to Find and Trade Intraday Reversal Times
Finance Nifty Feb Futures Open Interest Volume stood at 78360 with addition of 40 contracts. Additionally, the increase in Cost of Carry implies that there was a addition of LONG positions today.
Finance Nifty Decline Ratio at 06:13
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 has again failed to close above its 30 SMA@20561. Support at 20383-20320 range.
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 20550 strike, followed by the 20700 strike. On the put side, the 20450 strike has the highest OI, followed by the 20300 strike. This indicates that market participants anticipate Finance Nifty to stay within the 20300-20600 range.
The Finance Nifty options chain shows that the maximum pain point is at 20550 and the put-call ratio (PCR) is at 0.86. Typically, when the PCR open interest ranges between 0.90 and 1.05, the market tends to remain range-bound.
You’ve told yourself that you need to follow your rules, that you need to trade smaller, or that you should avoid trading during certain market conditions or times of day. Still you make the same mistakes, lose money, and build frustration., your attempts at change fail because they lack emotional force.
For Positional Traders, The Finance Nifty Futures’ Trend Change Level is At 20405 . 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 20586, Which Acts As An Intraday Trend Change Level.
FIN Nifty Expiry Range
Upper End of Expiry : 20711
Lower End of Expiry : 20384
FIN Nifty Intraday Trading Levels
Buy Above 20555 Tgt 20585, 20624 and 20666 ( FIN Nifty Spot Levels)
Sell Below 20500 Tgt 20475, 20444 and 20410 (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.
Good