Nifty Forms DOJI on Astro Date, 13 March Trade Plan

By | March 12, 2024 9:01 pm

Foreign Institutional Investors (FIIs) displayed a Bullish approach in the Nifty Index Futures market by Buying 2396 contracts worth 330 crores, resulting in a decrease of 58 contracts in the Net Open Interest. FIIs sold 454 long contracts and added 14440 short contracts , indicating a preference for covering LONG and adding SHORT positions .With a Net FII Long Short ratio of 0.54  FIIs utilized the market rise to exit Long positions and enter short positions in NIFTY Futures. Clients have added 44081 long and 14440 Shorts.

Nifty  has formed a perfect DOJI and price is still below 22527 as discussed in below video. Price is still trading between Double Ingress High of 22527 and Low of 22307 . Tommorow we have Mercury COnjucnt Jupiter in Helio so we can see another volatile session. CPI data both in India and US came above expectation, For Tommrow watch out for first 15 mins High and Low to capture trend of the day. Bears need 1 Hour close below 22300 for an impulsive downmove.

Nifty Trade Plan for Positional Trade ,Bulls will get active above 22450 for a move towards 22526/22610. Bears will get active below 22301 for a move towards 22226/22151/22076

Traders may watch out for potential intraday reversals at 09:32,10:00,10:50,01:29  How to Find and Trade Intraday Reversal Times

Nifty March Futures Open Interest Volume stood at 1.25 lakh cr , witnessing a addition of 4.4 Lakh  contracts. Additionally, the increase in Cost of Carry implies that there was a addition of SHORT positions today.

Nifty Advance Decline Ratio at 12:38and Nifty Rollover Cost is @22225 closed below it.

Nifty Gann Monthly  Trade level :22278 closed above it.

Nifty has closed above 20/50/100/200 SMA. Fight for Gann Level of 22278

Nifty options chain shows that the maximum pain point is at 22300 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 22400 strike, followed by 22500 strikes. On the put side, the highest OI is at the 22200 strike, followed by 22100 strikes. This suggests that the market participants are expecting Nifty 50 to remain range between 22000-22400 levels.

According To Todays Data, Retailers Have sold 36 K Call Option Contracts And 54 K Call Option Contracts Were Shorted by them. Additionally, They bought 93 K Put Option Contracts And 92 K Put Option Contracts were Shorted by them, Indicating A BULLISH Bias.

In Contrast, Foreign Institutional Investors (FIIs) bought 227 K Call Option Contracts And 210 K Call Option Contracts Were Shorted by them. On The Put Side, FIIs bought 227 K Put Option Contracts And 138 K Put Option Contracts were Shorted by them, Suggesting They Have Turned To BEARISH Bias.

In the cash segment, Foreign Institutional Investors (FII) bought 73 crores, while Domestic Institutional Investors (DII) bought 2358 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 22462 . 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 22431 , Which Acts As An Intraday Trend Change Level.

Nifty Intraday Trading Levels

Buy Above 22370 Tgt 22400, 22444 and 22488 ( Nifty Spot Levels)

Sell Below 22300 Tgt 22255, 22222 and 21155 (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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