Nifty made a New ATH,20 Feb Trade Plan

By | February 20, 2024 12:39 am

Analysis of FIIs’ behavior in the Nifty Index Futures market shows a Bullish approach as they displayed a preference for LONG positions. On a net basis, FIIs went LONG 9122   contracts worth 1012 crores, resulting in an increase of 7028 contracts in the Net Open Interest.

As Discussed in Last Analysis

Nifty again had a volatile session  but continue to trade above 3×4 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 20830.

NIfty made a fresh all time high today @22186 but failed to close above its last all time high of 22126 and price has made a tripple top. Bulls need to move above 22222 for upmove to continue. Bear need to break 21952. We have Venus and Sun Ingress in last 2 trading session and forming 2 DOJI on NIfty suggesting price is ready for range expansion in next 2 trading session with levels as mentioned below.

Nifty Trade Plan for Positional Trade ,Bulls will get active above 22200 for a move towards 22266/22323 . Bears will get active below 22066 for a move towards 21952/21864.

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

Nifty Feb Futures Open Interest Volume stood at 1.14 lakh cr , witnessing a liquidation of 3.6 Lakh  contracts. Additionally, the increase in Cost of Carry implies that there was a closeure of SHORT positions today.

Nifty Advance Decline Ratio at 27:22  and Nifty Rollover Cost is @21592 closed above it.

Nifty Gann Monthly  Buy Trade level : 21915 and Gann Monthly  Sell Trade level : 21646

Nifty has closed above 20/50/100/200 SMA.Trend is buy on dips till holding 21952

Nifty options chain shows that the maximum pain point is at 22100 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.

Nifty 50 Options Chain Analysis

The Nifty 50 options chain indicates that the highest open interest (OI) on the call side is at the 22200 strike, followed by 22300 strikes. On the put side, the highest OI is at the 2200 strike, followed by 21900 strikes. This suggests that the market participants are expecting Nifty 50 to remain range between 21900-22200 levels.

In the cash segment, Foreign Institutional Investors (FII) sold 754 crores, while Domestic Institutional Investors (DII) bought 952 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 22467-21836-21205  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.

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 Nifty Futures’ Trend Change Level is At 21858. 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 22172, Which Acts As An Intraday Trend Change Level.

Nifty Intraday Trading Levels

Buy Above 22150 Tgt 22188, 22222 and 22555 ( Nifty Spot Levels)

Sell Below 22100 Tgt 22060, 22022  and 21950 (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.

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