Today we have Bayer Rule 19: We have tops when Venus in geocentric position passes the conjunction with the Sun. SUN Conju Venus so trade cautiously watch for Imtraday timeing to plan for the trade. Venus have strong impact on stock market so trade with extreme care, VIX will also decline today if no major surprises in Election Results.
Finance Nifty Trade Plan for Positional Trade ,Bulls will get active above 22632 for a move towards 22707/22781/22856. Bears will get active below 22555 for a move towards 22483/22408/22334
Traders may watch out for potential intraday reversals at 09:22,10:25,11:44,1:00,1:46,2:11,02:55 How to Find and Trade Intraday Reversal Times
Finance Nifty June Futures Open Interest Volume stood at 77040 with addition of 21920 contracts. Additionally, the increase in Cost of Carry implies that there was a addition of LONG positions today.
Finance Nifty Advance Decline Ratio at 19:00, Finance Nifty Rollover Cost is @21856 closed above it
Finance Nifty closed above 20/50/100 SMA, Trend is Buy on Dips till above 21569.
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 21812-22442-23110. 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 22600 strike, followed by the 22700 strike. On the put side, the 22500 strike has the highest OI, followed by the 22400 strike. This indicates that market participants anticipate Finance Nifty to stay within the 22400-22800 range.
The Finance Nifty options chain shows that the maximum pain point is at 22600 and the put-call ratio (PCR) is at 1.20. Typically, when the PCR open interest ranges between 0.90 and 1.05, the market tends to remain range-bound.
The only reason to get into a trade is if you see an opportunity and you feel the market has a good chance of moving in your direction. But the reason people usually add on to their losing positions is not because they see another opportunity, but because they don’t want their first opinion to be wrong.
For Positional Traders, The Finance Nifty Futures’ Trend Change Level is At 22067. 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 22634, Which Acts As An Intraday Trend Change Level.
FIN Nifty Expiry Range
Upper End of Expiry : 22948
Lower End of Expiry : 22451
FIN Nifty Intraday Trading Levels
Buy Above 22666 Tgt 22729, 22777 and 22848 ( FIN Nifty Spot Levels)
Sell Below 22590 Tgt 22555, 22500 and 22451 (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.