SENSEX completed its 45 Day cycle from 04 June and price continue to trade within the Monday’s Range, Weekly Chart is forming DOJI and tommrow price will try to close in range of 78600-78700. Due to “Bayer Rule 2: Trend goes down within 3 days when the speed difference between Mars and Mercury is 59 minutes. Leads to Big Move ” we can expect big move in SENSEX either tommrow or on Monday. Break of todays High and Low can lead to move to 555 points in SENSEX.
SENSEX Trade Plan for Positional Trade ,Bulls will get active above 79004 for a move towards 79286/79569/79852 . Bears will get active below 78721 for a move towards 78439/78156
Traders may watch out for potential intraday reversals at 10:02,12:33,01:51,02:57 How to Find and Trade Intraday Reversal Times
SENSEX August Futures Open Interest Volume stood at 3540 with addition of 170 contracts. Additionally, the increase in Cost of Carry implies that there was a addition of LONG positions today.
SENSEX Advance Decline Ratio at 07:23
SENSEX Gann Monthly Trade level :79857 close below it.
SENSEX closed below 20 SMA, Trend is Sell on Rise till below 80465.
Traders who follow the musical octave trading path may find valuable insights in predicting SENSEX movements. According to this path, SENSEX may follow a path of 76627-78841-81186. 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 SENSEX options chain, the call side has the highest open interest (OI) at the 79000 strike, followed by the 79500 strike. On the put side, the 78500 strike has the highest OI, followed by the 78000 strike. This indicates that market participants anticipate SENSEX to stay within the 78000-79000 range.
The SENSEX options chain shows that the maximum pain point is at 79000 and the put-call ratio (PCR) is at 0.85. 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 SENSEX Futures’ Trend Change Level is At 79000. 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.
SENSEX Expiry Range
Upper End of Expiry : 79686
Lower End of Expiry : 78313
SENSEX Intraday Trading Levels
Buy Above 79000 Tgt 79212, 79400 and 79686 ( SENSEX Spot Levels)
Sell Below 78800 Tgt 78666, 78444 and 78222 (SENSEX 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.