Foreign Institutional Investors (FIIs) displayed a Bullish approach in the Nifty Index Futures market by Buying 21598 contracts worth ₹1363 crores, resulting in a increase of 33726 contracts in the net open interest. FIIs added 17387 long contracts and covered 14343 short contracts, indicating a preference for adding long positions and covering short positions. With a net FII long-short ratio of 1.1 , FIIs utilized the market rise to enter long positions and exit short positions in Nifty futures. Clients covered 7321 long contracts and added 11256 short contracts.
Nifty formed an NR21 on Thursday and a DOJI on Friday. On Monday, we will likely open with a gap up due to the Fed Pivot, but the key question is whether the gap will sustain. The 24,930 level is crucial for bulls to cross in order to push toward new highs. The 24,956-24,930 zone is the last gap remaining from the recent decline. Additionally, Bayer Rule 2, which states that the trend goes down within three days when the speed difference between Mars and Mercury is 59 minutes, leading to a big move, will become active on Monday. Therefore, the first 15 minutes high and low will be critical in guiding the day’s trend.
Nifty broke out of the NR21 pattern, with the price continuing to move higher and closing above 25,000. Bulls have the upper hand as long as 24,920 is held, with potential targets at 25,165–25,243. With the Moon conjunct Mars tomorrow, the first 15 minutes’ high and low will be crucial in guiding traders throughout the day.
Nifty Trade Plan for Positional Trade ,Bulls will get active above 25086 for a move towards 25165/25343/25322. Bears will get active below 24929 for a move towards 24850/24771.
Traders may watch out for potential intraday reversals at 09:59,12:48,01:53,02:26 How to Find and Trade Intraday Reversal Times
Nifty Aug Futures Open Interest Volume stood at 0.97 lakh cr , witnessing a liquidation of 11.7 Lakh contracts. Additionally, the increase in Cost of Carry implies that there was a closure of LONG positions today.
Nifty Advance Decline Ratio at 21:29 and Nifty Rollover Cost is @24503 closed below it.
Nifty Gann Monthly Trade level :24592 close above it.
Nifty closed above its 20SMA @24566 Trend is Buy on Dips till above 24592
Nifty options chain shows that the maximum pain point is at 25000 and the put-call ratio (PCR) is at 1.2 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 25100 strike, followed by 25200 strikes. On the put side, the highest OI is at the 24900 strike, followed by 24800 strikes. This suggests that the market participants are expecting Nifty 50 to remain range between 24800-25200 levels.
In the cash segment, Foreign Institutional Investors (FII) bought 483 crores, while Domestic Institutional Investors (DII) bought 1870 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 Mental Toughness is going to be the key to whether you make it or break it as a trader. I know of two MAJOR things that you can do to develop your Mental Toughness for trading. The first is to keep a journal.
For Positional Traders, The Nifty Futures’ Trend Change Level is At 24601 . 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 25019, Which Acts As An Intraday Trend Change Level.
Nifty Intraday Trading Levels
Buy Above 25025 Tgt 25078, 25125 and 25175 ( Nifty Spot Levels)
Sell Below 24955 Tgt 24910, 24864 and 24824 (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.