Finance Nifty saw a range of 435 points, which is the highest seen on a non-event day; the budget day range was 419 points. It’s an old saying that volatility is highest either at the top or bottom of the range. Finance Nifty formed a gravestone doji today, and we have an important Jupiter-Saturn aspect in Helio and Gann time cycle, both discussed in the video below. The price again failed to close above its 20 SMA, suggesting weakness and selling on the higher side. Tomorrow, we have the monthly expiry and Moon-Mars conjunction, which can lead to significant volatility during the day. For intraday trade, the first 15 minutes’ high and low will guide the trend for the day.
Finance Nifty Trade Plan for Positional Trade ,Bulls will get active above 23360 for a move towards 23437/23514/23591 . Bears will get active below 23283 for a move towards 23207/23130/23053.
Traders may watch out for potential intraday reversals at 09:33,01:48,02:20,02:57 How to Find and Trade Intraday Reversal Times
Finance Nifty June Futures Open Interest Volume stood at 57225 with addition of 7000 contracts. Additionally, the increase in Cost of Carry implies that there was a closure of LONG positions today.
Finance Nifty Advance Decline Ratio at 11:08, Finance Nifty Rollover Cost is @23143 closed above it
Finance Nifty Gann Monthly Trade level :23622 close below it.
Finance Nifty closed below 20 SMA, Trend is Sell on Ride till above 23550.
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 22964-23648-24331. 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 23350 strike, followed by the 23450 strike. On the put side, the 23200 strike has the highest OI, followed by the 23100 strike. This indicates that market participants anticipate Finance Nifty to stay within the 23100-23400 range.
The Finance Nifty options chain shows that the maximum pain point is at 23300 and the put-call ratio (PCR) is at 1. Typically, when the PCR open interest ranges between 0.90 and 1.05, the market tends to remain range-bound.
Trader make Error because of expectation, Our Mind think because pattern has emerged its giving us an EDGE on that particular trade and we have no way of knowing it but over a series of trade it will show the effect.
For Positional Traders, The Finance Nifty Futures’ Trend Change Level is At 23566. 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 23412, Which Acts As An Intraday Trend Change Level.
FIN Nifty Expiry Range
Upper End of Expiry : 23460
Lower End of Expiry : 23145
FIN Nifty Intraday Trading Levels
Buy Above 23360 Tgt 23400, 23445 and 23512 ( FIN Nifty Spot Levels)
Sell Below 23300 Tgt 23266, 23233 and 23200 (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.