Nifty Trade Plan for 15 March 2024

By | March 15, 2024 9:14 am

Foreign Institutional Investors (FIIs) displayed a Bearish approach in the Nifty Index Futures market by Shorting 4459 contracts worth 494 crores, resulting in a increase of 9433 contracts in the Net Open Interest. FIIs sold 2392  long contracts and covered 14938 short contracts , indicating a preference for adding LONG and covering SHORT positions .With a Net FII Long Short ratio of 0.72 FIIs utilized the market fall to add Long positions and exit short positions in NIFTY Futures. Clients have added 4202 long and 564 Shorts were also added by them.

As Discuused in Last Analysis

Nifty saw a dip yesterday based on Sun Conjuct Mercury  “Bayer Rule 2: Trend goes down within 3 days when the speed difference between Mars and Mercury is 59 minutes. Leads to Big Move ” So If Nifty breaks 21952 we can see fast decline towards 21850/21750  which are important gann number.

Nifty rallied yesterday but will open gap down today, we have MSCI rebalacing today with inflows in HDFC Bank and Outflows in Reliance and Infosys will be a tight fight today. 17 we again have double lunar date so carry overnight position with hedge. Now for today bulls would like to close above 22100 Bears would like to have a close below 21952. 3 PM we will see Big candel due to MSCI rebalancing.

Nifty Trade Plan for Positional Trade ,Bulls will get active above 22005 for a move towards 22080/22154/22229. Bears will get active below 21931 for a move towards 21856/21781/21707/21632

Traders may watch out for potential intraday reversals at 09:25,10:19,11:27,12:05,01:34,02:59 How to Find and Trade Intraday Reversal Times

Nifty March Futures Open Interest Volume stood at 1.29 lakh cr , witnessing a addition of7.3 Lakh  contracts. Additionally, the increase in Cost of Carry implies that there was a addition of SHORT positions today.

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

Nifty Gann Monthly  Trade level :22278 closed below it.

Nifty has closed below its 20 SMA. Fight for 50 SMA of 21890

Nifty options chain shows that the maximum pain point is at 22100 and the put-call ratio (PCR) is at 0.95. 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 22100 strike, followed by 22200 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 21800-22100 levels.

According To Todays Data, Retailers Have bought 156 K Call Option Contracts And 30 K Call Option Contracts Were Shorted by them. Additionally, They sold 703 K Put Option Contracts And 556 K Put Option Contracts were Shorted by them, Indicating A BULLISH Bias.

In Contrast, Foreign Institutional Investors (FIIs) bought 81.5 K Call Option Contracts And 47.7 K Call Option Contracts Were Shorted by them. On The Put Side, FIIs sold 38 K Put Option Contracts And 36 K Put Option Contracts were Shorted by them, Suggesting They Have Turned To NEUTRAL Bias.

In the cash segment, Foreign Institutional Investors (FII) sold 1356 crores, while Domestic Institutional Investors (DII) bought 139 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 22392. 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 22213, Which Acts As An Intraday Trend Change Level.

Nifty Intraday Trading Levels

Buy Above 22055 Tgt 22085, 22116 and 22176 ( Nifty Spot Levels)

Sell Below 22008 Tgt 21970, 21930 and 21900 (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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