Finance Nifty continued its rally to the upside, rising for the 8th day in a row, and we have the monthly expiry tomorrow. Last month’s expiry was at 23,578, and today we are trading at 24,953 — a rally of 1,375 points in a single expiry. Price is also approaching important Gann angle resistance in the 25,200-25,228 range, which could be a potential zone for profit booking.
Today, we have Venus Ingress into Scorpio, which falls under a Water Sign and is bearish in nature. Additionally, “RULE NO. 40 VENUS HELIOCENTRIC LATITUDE DIVIDED INTO PARTS 0*0’ 2*30’ 0*13’ 3*00’ 1*50’ 3*17’ 2*17’ 3*23’” will come into effect. Only a break below 24,790 will signal a reversal.
Also, according to the Gann Rule: If a price rises for 9 consecutive days in a stretch, there is a high probability of a correction lasting for 5 consecutive days (Ratio 9:5) — this rule is expected to come into effect tomorrow.
Finance Nifty Trade Plan for Positional Trade ,Bulls will get active above 25027 for a move towards 25105/25184/25263 . Bears will get active below 24869 for a move towards 24790/24729/24666.
Traders may watch out for potential intraday reversals at 10:47,11:09,12:46,01:48,02:17 How to Find and Trade Intraday Reversal Times
Finance Nifty September Futures Open Interest Volume stood at 56225 with liquidation of 9300 contracts. Additionally, the increase in Cost of Carry implies that there was a liquidation of LONG positions today.
Finance Nifty Advance Decline Ratio at 18:01, Finance Nifty Rollover Cost is @23628 closed above it
Finance Nifty Gann Monthly Trade level :24389 close above it.
Finance Nifty closed above 20 SMA, Trend is Buy on Dips till above 24389.
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 24331-25055-25778. 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 25000 strike, followed by the 25100 strike. On the put side, the 24900 strike has the highest OI, followed by the 24800 strike. This indicates that market participants anticipate Finance Nifty to stay within the 24800-25180 range.
The Finance 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.
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For Positional Traders, The Finance Nifty Futures’ Trend Change Level is At 24744. 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 24904, Which Acts As An Intraday Trend Change Level.
FIN Nifty Expiry Range
Upper End of Expiry : 25180
Lower End of Expiry : 24819
FIN Nifty Intraday Trading Levels
Buy Above 25000 Tgt 25034, 25070 and 25108 ( FIN Nifty Spot Levels)
Sell Below 24930 Tgt 23892, 23866 and 23819 (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.