Nifty 03 Jul 2024 Trade Plan

By | July 2, 2024 10:45 pm

Foreign Institutional Investors (FIIs) displayed a Bearish approach in the Nifty Index Futures market by Shorting 82 contracts worth ₹5 crores, resulting in a increase of 2532 contracts in the net open interest. FIIs added 314 long contracts and added 3434 short contracts, indicating a preference for adding long positions and adding of short positions. With a net FII long-short ratio of 2 , FIIs utilized the market rise to enter long positions and enter short positions in Nifty futures. Clients added 1273 long contracts and covered 400 short contracts.

As Discuused in Last Analysis

Mercury Ingress and Neptune Retrograde (Neptune is considered as the planet of speculation in financial astrology.) today and “Bayer Rule 2: Trend goes down within 3 days when the speed difference between Mars and Mercury is 59 minutes. Leads to Big Move ” all coming together today suggesting we are in for a volatile ride today.

Nifty made a fresh all time high today and made a perfect O=H on a day where we have multiple astro dates as discussed in below video, 24228 needs to be crossed in next 2-3 trading sessions, if not we might have formed a short term top which would be confirmed on close below 24000.

Nifty Trade Plan for Positional Trade ,Bulls will get active above 24266 for a move towards 24345/24422. Bears will get active below 24036  for a move towards 23959/23882/23805

Traders may watch out for potential intraday reversals at 10:18,11:21,01:12,02:01  How to Find and Trade Intraday Reversal Times

Nifty June Futures Open Interest Volume stood at 1.46 lakh cr , witnessing a addition of 0.13 Lakh  contracts. Additionally, the increase in Cost of Carry implies that there was a addition of LONG positions today.

Nifty Advance Decline Ratio at 21:29 and Nifty Rollover Cost is @23839 closed above it.

Nifty Gann Monthly  Trade level :23993 close  above  it.

Nifty closed above its 20SMA @23437 Trend is Buy on Dips.

Nifty options chain shows that the maximum pain point is at 24000 and the put-call ratio (PCR) is at 0.5Typically, 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 24100 strike, followed by 24200 strikes. On the put side, the highest OI is at the 23900 strike, followed by 23700 strikes. This suggests that the market participants are expecting Nifty 50 to remain range between 23800-24200 levels.

In the cash segment, Foreign Institutional Investors (FII) sold 2000 crores, while Domestic Institutional Investors (DII) bought 648crores.

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 23889-24600-25310 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 24147. 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 24204, Which Acts As An Intraday Trend Change Level.

Nifty Intraday Trading Levels

Buy Above 24166 Tgt 24199, 24244  and 24300 ( Nifty Spot Levels)

Sell Below 24120 Tgt 24078, 24024  and 24000 (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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