Nifty, 19 March 2024 Trade Plan

By | March 19, 2024 9:12 am

Foreign Institutional Investors (FIIs) displayed a Bullish approach in the Nifty Index Futures market by Buying 2674 contracts worth 295  crores, resulting in a increase of 1320 contracts in the Net Open Interest. FIIs bought 7561 long contracts and added  2907 short contracts , indicating a preference for adding LONG and adding SHORT positions .With a Net FII Long Short ratio of 0.75 FIIs utilized the market rise  to add Long positions and add short positions in NIFTY Futures. Clients have added 8850 long and 2450 Shorts were also added by them.

As Discuused in Last Analysis

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 continue to trade in 13 March big red candel, Low made in past 2 days is around 21905-21931 and 21900 is also 50 SMA, Bulls are trying hard to protect 21900 and Bears trying hard to close below 21952 price almost at gann angle, suggesting possible price time squaring. Price has completed 144 Days and 99 Bar from 26 Oct 2023 low. Also we have Important Astro Event involving Mercury and Neptune as discussed in below video suggesting we should see trending move in bank nifty in next 2 trading session. Bulls need an close above 22050 ,Bears below 21900.

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 09:15,10:01,10:45,12:12,01:56,02:27 How to Find and Trade Intraday Reversal Times

Nifty March Futures Open Interest Volume stood at 1.26 lakh cr , witnessing a liquidation of 1.3 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 21900

Nifty options chain shows that the maximum pain point is at 22000 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 sold 523 K Call Option Contracts And 300 K Call Option Contracts Were Shorted by them. Additionally, They bought 12.7 K Put Option Contracts And 39 K Put Option Contracts were Shorted by them, Indicating A NEUTRAL  Bias.

In Contrast, Foreign Institutional Investors (FIIs) sold 92.4 K Call Option Contracts And 116 K Call Option Contracts Were Shorted by them. On The Put Side, FIIs sold 182 K Put Option Contracts And 158 K Put Option Contracts were Shorted by them, Suggesting They Have Turned To NEUTRAL Bias.

In the cash segment, Foreign Institutional Investors (FII) sold 2051 crores, while Domestic Institutional Investors (DII) bought 2260 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 22349 . 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 22119 , Which Acts As An Intraday Trend Change Level.

Nifty Intraday Trading Levels

Buy Above 21952  Tgt 21980, 22025 and 22080 ( Nifty Spot Levels)

Sell Below 21930  Tgt 21900, 21870 and 21835 (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.

Leave a Reply