Mars Ingress Impact on Nifty 22 March Trade Plan

By | March 21, 2024 10:49 pm

Foreign Institutional Investors (FIIs) displayed a BEARISH  approach in the Nifty Index Futures market by shorting 367 contracts worth 42 crores, resulting in a increase of 5713 contracts in the Net Open Interest. FIIs sold 6705 long contracts and added  306 short contracts were covered by them , indicating a preference for covering LONG and covering SHORT positions .With a Net FII Long Short ratio of 0.60 FIIs utilized the market rise to exit Long positions and exit short positions in NIFTY Futures. Clients have added 9077 long and 1531 Shorts were covered by them.

As Discuused in Last Analysis

Nifty has formed one more DOJ and closed below its gann angle as shown below, price is unable to close above 50 SMA and also 21952 suggesting bears are having an upper hand. Price are also trading below Monday Low of 21916, today made high of 21930 and again came down. BUlls and Bears will fight for 21900-21920 range. Tommrow expiry can be very volatile due to Venus Conjunct Saturn Aspect. 

Nifty did a close above the 50 SMA and made a high exactly at the Gann angle, as we have discussed in the last few videos. Tomorrow, IT stocks will take a beating as Accenture has lowered the growth forecast, suggesting Nifty may open down. Bears need to break 21,952. We have Mars ingress and Saturn conjunct Venus aspects, both very important as discussed below. Also, we have a trading holiday on Monday, so carry overnight positions with hedges only.

Nifty Trade Plan for Positional Trade ,Bulls will get active above 22078 for a move towards 212152/22225. Bears will get active below 21931 for a move towards 21857/21783/21710

Traders may watch out for potential intraday reversals at 09:15,09:52,10:23,11:32,12:49,02:12 How to Find and Trade Intraday Reversal Times

Nifty March Futures Open Interest Volume stood at 1.14 lakh cr , witnessing a liquidation of 2.5 Lakh  contracts. Additionally, the increase in Cost of Carry implies that there was a covering of SHORT positions today.

Nifty Advance Decline Ratio at 43:07 and Nifty Rollover Cost is @22225 closed below it.

Nifty Gann Monthly  Trade level :22278 closed below it.

Nifty has closed below its 20SMA and closed just above 50 SMA.

Nifty options chain shows that the maximum pain point is at 22000 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 21800-22100 levels.

According To Todays Data, Retailers Have bought  133 K Call Option Contracts And 124 K Call Option Contracts Were Shorted by them. Additionally, They bought 755 K Put Option Contracts And 733 K Put Option Contracts were Shorted by them, Indicating A NEUTRAL  Bias.

In Contrast, Foreign Institutional Investors (FIIs) bought 376 K Call Option Contracts And 405 K Call Option Contracts Were Shorted by them. On The Put Side, FIIs bought 276 K Put Option Contracts And 347 K Put Option Contracts were Shorted by them, Suggesting They Have Turned To Bearish Bias.

In the cash segment, Foreign Institutional Investors (FII) sold 1827 crores, while Domestic Institutional Investors (DII) bought 3209 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 22280 . 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 22088, Which Acts As An Intraday Trend Change Level.

Nifty Intraday Trading Levels

Buy Above 22025 Tgt 22075, 22108 and 22166 ( Nifty Spot Levels)

Sell Below 21952 Tgt 21910, 21864   and 21824  ( 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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