India’s GDP grows at 8.4% : NIfty 01 March Trade Plan

By | March 1, 2024 9:01 am

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 6201 contracts worth 676 crores, resulting in an decrease of 59803 contracts in the Net Open Interest.

As Discussed in Last Analysis

NIfty saw the impact of astro cycle and we saw a big move, Tommrow we have monthly close and MSCI rebalancing so again we are bound to see voaltile move. Also Aspect today are very important as discussed in below video Bulls would be happy to close around 21780 and Bears near 21630 range.

NIfty had a quiet expiry yesterday apart from last 20 mins buying by MSCI, Lot of Stocks are in Discount in March Series due to buying in cash but no follow up in futures. Today being first day of Series and Month watch out for open price it will guide for the day. Bulls need a close above 22050 and Bears below 21900 for range expansion.

Nifty Trade Plan for Positional Trade ,Bulls will get active above 22050 for a move towards 22148/22222. Bears will get active below 21924 for a move towards 21849/21774/21700

Traders may watch out for potential intraday reversals at 10:12,11:14,12:05,01:23,02:38  How to Find and Trade Intraday Reversal Times

Nifty March Futures Open Interest Volume stood at 1.3 lakh cr , witnessing a addition of 32 Lakh  contracts. Additionally, the increase in Cost of Carry implies that there was a addition of SHORT positions today.

Nifty Advance Decline Ratio at 26:24and Nifty Rollover Cost is @22225 closed below it.

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

Nifty has closed above 20/50/100/200 SMA. Fight for Gann Level of 21952

Nifty options chain shows that the maximum pain point is at 22200 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 22000 strike, followed by 22100 strikes. On the put side, the highest OI is at the 21900 strike, followed by 21800 strikes. This suggests that the market participants are expecting Nifty 50 to remain range between 21800-22000 levels.

In the cash segment, Foreign Institutional Investors (FII) bought 3568 crores, while Domestic Institutional Investors (DII) sold 230 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 22112. 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 22112, Which Acts As An Intraday Trend Change Level.

Nifty Intraday Trading Levels

Buy Above 22000 Tgt 22032, 22066 and 22108 ( Nifty Spot Levels)

Sell Below 21900 Tgt 21864, 21830 and 21800 (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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