Finance Nifty 02 April 2024 Weekly Expiry Analysis

By | April 1, 2024 8:38 pm

Finance Nifty will be completing 108 trading days from 26-Oct Low and today being Mercur Retrograde which is a very powerful astro event , we can see an explosive expiry for Finance Nifty tommrow. Bears need to break  21108 for a swing of 144 points from this level. Bulls above 21250 will target 21362.

Finance Nifty Trade Plan for Positional Trade ,Bulls will get active above 21250 for a move towards 21314/21386. Bears will get active below 21108 for a move towards 21025/20953

 Traders may watch out for potential intraday reversals at 9:18,10:32,12:17,1:16,2:53 How to Find and Trade Intraday Reversal Times

Finance Nifty April Futures Open Interest Volume stood at 53120 with addition  of 6400 contracts. Additionally, the increase in Cost of Carry implies that there was a covering of SHORT   positions today.

Finance Nifty Advance Decline Ratio at 18:01, Finance Nifty Rollover Cost is @20946 closed above it

Finance Nifty closed above 20/50/100 SMA, Trend is Buy on Dips till above 21108.

Traders who follow the musical octave trading path may find valuable insights in predicting Bank Nifty’s movements. According to this path, Finance Nifty may follow a path of 20587-21198-21812 . This means that traders can take a position and potentially ride the move as Bank 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. 

According to the Finance Nifty options chain, the call side has the highest open interest (OI) at the 21200 strike, followed by the 21300 strike. On the put side, the 21100 strike has the highest OI, followed by the 21000 strike.  This indicates that market participants anticipate Finance  Nifty to stay within the 21100-21300 range. 

The Finance Nifty options chain shows that the maximum pain point is at 21200 and the put-call ratio (PCR) is at 0.93. Typically, when the PCR open interest ranges between 0.90 and 1.05, the market tends to remain range-bound.

By implementing contingency planning, you can take swift, decisive action the instant one of your positions changes its behavior or is hit with an unexpected event.

For Positional Traders, The Finance Nifty Futures’ Trend Change Level is At 20988. 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 21321, Which Acts As An Intraday Trend Change Level.

FIN Nifty Expiry Range

Upper End of Expiry : 21132

Lower End of Expiry : 21063

FIN Nifty Intraday Trading Levels

Buy Above 21200 Tgt 21230, 21266 and 21299 ( FIN Nifty Spot Levels)

Sell Below 21166 Tgt 21125, 21100 and 21063 (FIN 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.

Category: Finance NIfty Daily Analysis

About Bramesh

Bramesh Bhandari has been actively trading the Indian Stock Markets since over 15+ Years. His primary strategies are his interpretations and applications of Gann And Astro Methodologies developed over the past decade.

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