Foreign Institutional Investors (FIIs) displayed a Bullish approach in the Nifty Index Futures market by Buying 266 contracts worth ₹16.87 crores, resulting in a increase of 636 contracts in the net open interest. FIIs added 1338 long contracts and covered 371 short contracts, indicating a preference for adding long positions and covering short positions. With a net FII long-short ratio of 2.16 , FIIs utilized the market rise to enter long positions and cover short positions in Nifty futures. Clients added 15182 long contracts and covered 4048 short contracts.
Nifty made a fresh all time high today at 25300 as discussed in last analysis, Nifty has been up for 13 days in a row record in itself, We have two important astrological events: Venus Opposition Mercury HELIO and a New Moon. The aspect with the Mercury and Venus both short term plannets 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
Nifty witnessed a sharp bounce today as Mercury transitioned into a new house. This evening, we are expecting the release of inflation data, which, along with crude oil trading at a three-year low, is likely to have a positive influence on the market.
For the bullish momentum in Nifty to continue, it is crucial for the bulls to maintain the 24950-24980 range. A breakdown below 24950 could trigger a sharp decline, potentially pushing the index towards the 24800-24751 levels.
The upcoming data and price action will be pivotal in shaping Nifty’s short-term direction as both Gann and Astro cycle confluence.
Nifty Trade Plan for Positional Trade ,Bulls will get active above 25067 for a move towards 25146/25225/25303. Bears will get active below 24989 for a move towards 24910/24831/24753
Traders may watch out for potential intraday reversals at 09:15,12:39,01:47,02:49 How to Find and Trade Intraday Reversal Times
Nifty Sep Futures Open Interest Volume stood at 1.32 lakh cr , witnessing a liquidation of 4.2 Lakh contracts. Additionally, the increase in Cost of Carry implies that there was a addition of LONG positions today.
Nifty Advance Decline Ratio at 36:14 and Nifty Rollover Cost is @25178 closed above it.
Nifty Gann Monthly Trade level :25089 close below it.
Nifty closed above its 20SMA @24885 Trend is Buy on Dips till above 24885
Nifty options chain shows that the maximum pain point is at 25000 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.
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 25000 strike, followed by 24900 strikes. This suggests that the market participants are expecting Nifty 50 to remain range between 24900-25200 levels.
In the cash segment, Foreign Institutional Investors (FII) bought 2208 crores, while Domestic Institutional Investors (DII) sold 275 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.
One Reason for Overtrading is due to an excessive flood of knowledge. Through numerous books, seminars, workshops, webinars trader acquire an incredible amount of specialist knowledge over time. There is also a large number Trading approaches of other traders that are constantly floating around in your head like a swarm of bees gone wild. Knowledge can be here quickly too Cause confusion.
For Positional Traders, The Nifty Futures’ Trend Change Level is At 25194 . 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 25063 , Which Acts As An Intraday Trend Change Level.
Nifty Intraday Trading Levels
Buy Above 25075 Tgt 25108, 25144 and 25200 ( Nifty Spot Levels)
Sell Below 24970 Tgt 24935, 24900 and 24850 (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.