Foreign Institutional Investors (FIIs) displayed a Bearish approach in the Nifty Index Futures market by Shorting 3671 contracts worth ₹225 crores, resulting in a decrease of 5693 contracts in the net open interest. FIIs covered 4358 long contracts and added 251 short contracts, indicating a preference for covering long positions and adding short positions. With a net FII long-short ratio of 1.06, FIIs utilized the market rise to exit long positions and add short positions in Nifty futures. Clients added 12415 long contracts and covered 76 short contracts.
Nifty is expected to open with a gap up today based on global cues. However, the key question is whether the gap will sustain, given the influence of the Mars Square Saturn aspect and the impact of ‘Rule No. 38: Mercury Latitude Heliocentric.’ This rule suggests that significant tops and bottoms are often produced when Mercury, in this motion, passes specific degrees. Mars, the planet of energy, combined with Saturn, which typically depresses prices, and the fact that Mercury and Earth are at their minimum distance, indicates that the combined effects of Mercury, Mars, and Saturn will likely result in a volatile market move today. The trend for the day will likely be determined by the first 15 minutes’ high and low. It is advisable to carry overnight positions with a hedge, as significant astrological changes are expected over the weekend. Price is currently near 49,700, which is the 50% retracement level, suggesting that we could see a move of 555 points in Nifty over the next 2-3 trading sessions.
Nifty provided an upward move from the octave point and astro cycle confluence, as discussed in the previous analysis. Yesterday, it reacted from the critical Gann level of 24600. With Bayer Rule 22: The trend changes if retrograde Mercury passes over the Sun. Sun Conjuct Rx Mer is likely to bring a long-term trend change in the market. Therefore, until Monday’s high of 24638 and low of 24522 are broken, it is advisable to avoid taking swing trades.
Nifty Trade Plan for Positional Trade ,Bulls will get active above 24643 for a move towards 24729/24800/24868. Bears will get active below 24437 for a move towards 24360/24282/24204
Traders may watch out for potential intraday reversals at 10:09,11:02,12:46,01:21,02:33 How to Find and Trade Intraday Reversal Times
Nifty Aug Futures Open Interest Volume stood at 1.09 lakh cr , witnessing a liquidation of 3.2 Lakh contracts. Additionally, the increase in Cost of Carry implies that there was a covering of SHORT positions today.
Nifty Advance Decline Ratio at 30:20 and Nifty Rollover Cost is @24503 closed below it.
Nifty Gann Monthly Trade level :24592 close below it.
Nifty closed above its 20SMA @22481 Trend is Sell on Rise till below 24592
Nifty options chain shows that the maximum pain point is at 24600 and the put-call ratio (PCR) is at 1.08 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 24600 strike, followed by 24800 strikes. On the put side, the highest OI is at the 24400 strike, followed by 24200 strikes. This suggests that the market participants are expecting Nifty 50 to remain range between 24400-24800 levels.
In the cash segment, Foreign Institutional Investors (FII) sold 2667 crores, while Domestic Institutional Investors (DII) bought 1802 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.
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 Nifty Futures’ Trend Change Level is At 24532 . 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 24599 , Which Acts As An Intraday Trend Change Level.
Nifty Intraday Trading Levels
Buy Above 24638 Tgt 24680, 24712 and 24743 ( Nifty Spot Levels)
Sell Below 24600 Tgt 24555, 24512 and 24444 (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.
You give Nifty intraday level to buy above 24638 and in live Market I saw a hammer candle after a small decline giving me price action indication. And we saw big rally just before your level, this is amazing Bulls entered before the level so we have to see the chart and price action movements too. Earlier I was not giving attention to read the full blog post, but today I saw the levels and timings thanks for your efforts