Finance Nifty is struggling to close above its last week’s high of 23,078 and the Gann monthly trend change level of 23,123. Today, we have Mercury Ingress as retrograde Mercury moves into the Leo zodiac sign. Leo, being a fire sign, suggests that a trending move is possible within the next two days. Since Mercury is a short-term planet, it is likely to cause a short-term trend change. For intraday trades, keep an eye on the first 15 minutes’ high and low to capture the trend for the day.
Finance Nifty Trade Plan for Positional Trade ,Bulls will get active above 23057 for a move towards 23133/23208/23284 . Bears will get active below 22981 for a move towards 22906/22830.
Traders may watch out for potential intraday reversals at 09:15,12:36,01:25,02:44 How to Find and Trade Intraday Reversal Times
Finance Nifty June Futures Open Interest Volume stood at 60875 with liquidation of 3575 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 :23123 close below it.
Finance Nifty closed below 20 SMA, Trend is Sell on Ride till below 23266.
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 23100 strike, followed by the 23200 strike. On the put side, the 23000 strike has the highest OI, followed by the 22900 strike. This indicates that market participants anticipate Finance Nifty to stay within the 22900-23200 range.
The Finance Nifty options chain shows that the maximum pain point is at 23000 and the put-call ratio (PCR) is at 0.92. Typically, when the PCR open interest ranges between 0.90 and 1.05, the market tends to remain range-bound.
Your losing trades do not diminish you as a person. You are not your losing trades. You are also not your winning trades either. They are simply by-products of the business that you’re in.
For Positional Traders, The Finance Nifty Futures’ Trend Change Level is At 23075. 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 23093 , Which Acts As An Intraday Trend Change Level.
FIN Nifty Expiry Range
Upper End of Expiry : 23191
Lower End of Expiry : 22808
FIN Nifty Intraday Trading Levels
Buy Above 23005 Tgt 23066, 23108 and 23148 ( FIN Nifty Spot Levels)
Sell Below 22970 Tgt 22923, 22888 and 22848 (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.