Nifty 26 June 2024 Trade Plan

By | June 25, 2024 11:32 pm

Foreign Institutional Investors (FIIs) displayed a Bullish  approach in the Nifty Index Futures market by Buying 18991 contracts worth ₹1133 crores, resulting in a increase of 22999 contracts in the net open interest. FIIs added 47146 long contracts and added 7981 short contracts, indicating a preference for adding long positions and adding of short positions. With a net FII long-short ratio of 1.18, FIIs utilized the market rise to enter long positions and enter short positions in Nifty futures. Clients added 7143 long contracts and added 61589 short contracts.

As Discuused in Last Analysis

Nifty for 3 days trading in a range also we had confluence of astro date yesterday as discussed in below video so we can see an explosive move in next 2 trading session with levels as discussed below.

Nifty made a fresh all time high today once the high of Monday was taken out, which was very important astro date. Tommrow we have Bayer Rule 20: Moves are when Mercury passes 17 degrees 18 minutes 27 seconds of Cancer in Geocentric and important gann embelem and dynamic dates as explained in below video  so first 15 mins High and Low will guide for the day.

Nifty Trade Plan for Positional Trade ,Bulls will get active above 23732 for a move towards 23808/23884. Bears will get active below 23655 for a move towards 23579/23502/23426

Traders may watch out for potential intraday reversals at 10:06,10:39,12:19,01:34,02:35 How to Find and Trade Intraday Reversal Times

Nifty June Futures Open Interest Volume stood at 0.89  lakh cr , witnessing a liquidation of 12.9 Lakh  contracts. Additionally, the increase in Cost of Carry implies that there was a covering of LONG positions today.

Nifty Advance Decline Ratio at 23:26 and Nifty Rollover Cost is @22960 closed above it.

Nifty Gann Monthly  Trade level :22812 close  above  it.

Nifty closed above its 20SMA @23125 Trend is Buy on Dips.

Nifty options chain shows that the maximum pain point is at 23550 and the put-call ratio (PCR) is at 1.2 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 23700 strike, followed by 23800  strikes. On the put side, the highest OI is at the 23600 strike, followed by 23500 strikes. This suggests that the market participants are expecting Nifty 50 to remain range between 23500-23800 levels.

According To Todays Data, Retailers Have sold 645 K Call Option Contracts And 393 K Call Option Contracts Were Shorted by them. Additionally, They bought 130 K Put Option Contracts And 134 K Put Option Contracts were Shorted by them, Indicating A Neutral Bias.

In Contrast, Foreign Institutional Investors (FIIs) sold 285 K Call Option Contracts And 12.2 K Call Option Contracts Were Shorted by them. Additionally, They bought 604 K Put Option Contracts And 275 K Put Option Contracts were Shorted by them, Indicating A Bearish Bias.

In the cash segment, Foreign Institutional Investors (FII) bought 1175 crores, while Domestic Institutional Investors (DII) sold 149 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 21146-21775-22404-23071-23737  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.

If a trader is confused about what he is doing, the probable win ratio is zero and he might as well give up trading.

For Positional Traders, The Nifty Futures’ Trend Change Level is At 23550 . 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 23652, Which Acts As An Intraday Trend Change Level.

Nifty Intraday Trading Levels

Buy Above 23777 Tgt 23808, 23848 and 23901 ( Nifty Spot Levels)

Sell Below 23700 Tgt 23666, 23630 and 23600 (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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