Foreign Institutional Investors (FIIs) displayed a Bearish approach in the Nifty Index Futures market by Shorting 1095 contracts worth ₹66 crores, resulting in a decrease of 5315 contracts in the net open interest. FIIs covered 4731 long contracts and covered 23991 short contracts, indicating a preference for covering long positions and covering of short positions. With a net FII long-short ratio of 2.7 , FIIs utilized the market fall to exit long positions and exit short positions in Nifty futures. Clients added 9464 long contracts and added 2263 short contracts.
Mercury Ingress showed its impact with a gap-down opening, but as usual, the dips were bought into. Nifty broke its 15-minute high and rallied on the upside. The price made a low at 24,210, near the Gann Monthly Trend Change level of 24,215. As tomorrow is the first day of the August series and a weekly close, bulls would like to close around the 24,445-24,465 range. As long as 24,210 is held, bulls have the upper hand. Nifty is showing excellent strength and outperforming Bank Nifty and the global market significantly, thanks to sector rotation and the strength of IT stocks.
Nifty made a fresh all time hight today missing 25000 by 0.25 points. Nifty has corrcted from the confluence of gann price level both static and dynamic as disccused in below video, we have an important Jupiter-Saturn aspect in Helio. Price has takes exact resistance at 1×1 Gann angle saw a decline. Tomorrow, we have 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.
Nifty Trade Plan for Positional Trade ,Bulls will get active above 24879 for a move towards 24957/25035. Bears will get active below 23801 for a move towards 23723/24645/24567
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
Nifty Aug Futures Open Interest Volume stood at 1.43 lakh cr , witnessing a addition of 6.4 Lakh contracts. Additionally, the increase in Cost of Carry implies that there was a addition of LONG positions today.
Nifty Advance Decline Ratio at 25:25 and Nifty Rollover Cost is @24503 closed below it.
Nifty Gann Monthly Trade level :24270 close above it.
Nifty closed above its 20SMA @24433 Trend is Buy on Dips.
Nifty options chain shows that the maximum pain point is at 24800 and the put-call ratio (PCR) is at 1.02 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 24900 strike, followed by 25000 strikes. On the put side, the highest OI is at the 24700 strike, followed by 24600 strikes. This suggests that the market participants are expecting Nifty 50 to remain range between 24600-25000 levels.
In the cash segment, Foreign Institutional Investors (FII) sold 2474 crores, while Domestic Institutional Investors (DII) bought 5665 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 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.
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 Nifty Futures’ Trend Change Level is At 24704 . 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 24952, Which Acts As An Intraday Trend Change Level.
Nifty Intraday Trading Levels
Buy Above 24870 Tgt 24900, 24950 and 24988 ( Nifty Spot Levels)
Sell Below 24800 Tgt 24763, 24729 and 24666 (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.