Nifty 04 April 2024 Weekly Expiry Trade Plan

By | April 3, 2024 9:00 pm

Foreign Institutional Investors (FIIs) displayed a Bullish  approach in the Nifty Index Futures market by Buying 5744   contracts worth 648 crores, resulting in a increase of 2494 contracts in the Net Open Interest. FIIs covered 2132 long contracts and 14198 short contracts were added by them , indicating a preference for adding LONG and adding SHORT positions .With a Net FII Long Short ratio of 0.45 FIIs utilized the market fall  to enter Long positions and enter short positions in NIFTY Futures. Clients have added 5262 long and 3116 Shorts were added by them.

As Discuused in Last Analysis

Nifty has formed 2 DOJI is last 2 trading sessions, Today we will open gap down and Bulls need to hold 22200-22225 range for upmove to continue. Bears were able to close below 22455 which we quaterly open they have upper hand but need to break 22200-22225  range for impulsive downmove.

Nifty formed an outside bar today and gap down was bought into but again price failed to close above 22455 which was QUaterly open, tommrow we have SUN Conjunct North Node so we can expect voaltlity in the market.Nifty has made 5 tops above 22500 since March 7th till date: 22525, 22526, 22516, 22529 (ATH), today 22521 (27 days), so Bulls need 22530 break for an implusive upmove and Bears need to break today 22388 for impulsive down move.


Nifty Trade Plan for Positional Trade ,Bulls will get active above 22535 for a move towards 22610/22684/22759. Bears will get active below 22386 for a move towards 22312/22238/22163

Traders may watch out for potential intraday reversals at 9:15,10:26,12:01,2:25  How to Find and Trade Intraday Reversal Times

Nifty April  Futures Open Interest Volume stood at 1.01  lakh cr , witnessing a addition  of 0.78 Lakh  contracts. Additionally, the increase in Cost of Carry implies that there was a addition of SHORT positions today.

Nifty Advance Decline Ratio at 20:30 and Nifty Rollover Cost is @22327  closed above it.

Nifty Gann Monthly  Trade level :22455 closed below it.

Nifty  has closed above its 20/30 DMA suggesting trend is buy on dips till we are holding 22455 — Price has closed below 22455

Nifty options chain shows that the maximum pain point is at 22500 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 22500 strike, followed by 22600 strikes. On the put side, the highest OI is at the 22300 strike, followed by 22200 strikes. This suggests that the market participants are expecting Nifty 50 to remain range between 22200-22500 levels.

According To Todays Data, Retailers Have sold 107  K Call Option Contracts And 90 K Call Option Contracts Were Shorted by them. Additionally, They sold 106  K Put Option Contracts And 860 K Put Option Contracts were Shorted by them, Indicating A Bullish Bias.

In Contrast, Foreign Institutional Investors (FIIs) sold 334 K Call Option Contracts And 450 K Call Option Contracts Were Shorted by them. On The Put Side, FIIs sold 215 K Put Option Contracts And 351 K Put Option Contracts were Shorted by them, Suggesting They Have Turned To Bearish Bias.

In the cash segment, Foreign Institutional Investors (FII) sold 2213  crores, while Domestic Institutional Investors (DII) bought 1024 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 21775-22404-23071  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 22553  . 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 22541 , Which Acts As An Intraday Trend Change Level.

Nifty Expiry Range

Upper End of Expiry : 22567

Lower End of Expiry : 22300


Nifty Intraday Trading Levels

Buy Above 22460 Tgt 22490, 22521  and 22575 ( Nifty Spot Levels)

Sell Below 22400 Tgt 22375, 22343 and 22312  ( 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: Nifty50

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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