Finance Nifty continued its rally on the upside, but its underperformance compared to Nifty persisted, as Nifty has hit a fresh all-time high while Finance Nifty is still trading below its all-time high of 24,046, formed on July 4, 2024. We have two important astrological events: Venus Opposition North Node and a New Moon. The aspect with the North Node is likely to bring volatility to the market, so traders should use the high and low of the first 15 minutes to capture the trend for the day
Finance Nifty Trade Plan for Positional Trade ,Bulls will get active above 23738 for a move towards 23814/23890 . Bears will get active below 23661 for a move towards 23585/23509/23433.
Traders may watch out for potential intraday reversals at 09:17,11:49,02:07,02:50 How to Find and Trade Intraday Reversal Times
Finance Nifty September Futures Open Interest Volume stood at 72575 with liquidation of 5075 contracts. Additionally, the increase in Cost of Carry implies that there was a liquidation of LONG positions today.
Finance Nifty Advance Decline Ratio at 16:04, Finance Nifty Rollover Cost is @23628 closed above it
Finance Nifty Gann Monthly Trade level :23607 close above it.
Finance Nifty closed below 20 SMA, Trend is Buy on Dips till above 23607.
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 23800 strike, followed by the 23900 strike. On the put side, the 23600 strike has the highest OI, followed by the 23500 strike. This indicates that market participants anticipate Finance Nifty to stay within the 23600-23800 range.
The Finance Nifty options chain shows that the maximum pain point is at 23700 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.
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For Positional Traders, The Finance Nifty Futures’ Trend Change Level is At 23714 . 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 23805 , Which Acts As An Intraday Trend Change Level.
FIN Nifty Expiry Range
Upper End of Expiry : 23901
Lower End of Expiry : 23552
FIN Nifty Intraday Trading Levels
Buy Above 23729 Tgt 23774, 23822 and 23878 ( FIN Nifty Spot Levels)
Sell Below 23700 Tgt 23671, 23620 and 23555 (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.