Foreign Institutional Investors (FIIs) displayed a Bearish approach in the Nifty Index Futures market by Shorting 70440 contracts worth ₹4404 crores, resulting in a decrease of 22702 contracts in the net open interest. FIIs covered 45261 long contracts and ADDED 72450 short contracts, indicating a preference for covering long positions and adding short positions. With a net FII long-short ratio of 4.2 , FIIs utilized the market fall to exit long positions and enter short positions in Nifty futures. Clients added 59150 long contracts and covered 24681 short contracts. FII are holding 47 % Long and 53 % Shorts in Index Futures and Clients are holding 58 % Long and 42 % Shorts in Index Futures.
Nifty continued its decline, showing the impact of the solar eclipse as discussed in the video below. Today, we have two important Bayer’s Rules coming into effect, which involve Mars—the planet of energy—adding fuel to the current market trend.
Bayer Rule 6: The price hits a bottom when Mars is at 16 degrees 35 minutes of a sign, plus 30 degrees.
Bayer Rule 33: Significant moves occur when Mars in Geocentric longitude passes over 16 degrees 55 minutes 46 seconds.
Intraday traders should watch the first 15 minutes’ high and low to capture the trend for the day. Nifty is down 3.5 % for the week, and with today being the weekly close, bulls and bears will battle over the 25281 level.
Jupiter, often considered the planet of expansion, optimism, and growth, is associated with bullish trends and broad economic growth.
When Jupiter reaches the peak of its declination, either north or south, some astrologers believe it could signal a period of excessive market euphoria or pessimism. This could lead to market tops or bottoms, especially when Jupiter’s influence clashes with other astrological aspects such as retrogrades or alignments with other planets.
Price is back to gann angle support zone so chances of pullback are high.
Intraday traders should watch the first 15 minutes’ high and low to capture the trend for the day.
Nifty Trade Plan for Positional Trade ,Bulls will get active above 24825 for a move towards 24905/24984/25063. Bears will get active below 24746 for a move towards 24667/24588/24508
Traders may watch out for potential intraday reversals at 10:02,11:02,12:42,02:27 How to Find and Trade Intraday Reversal Times
Nifty Sep Futures Open Interest Volume stood at 1.38 lakh cr , witnessing a addition of 0.3.9 Lakh contracts. Additionally, the increase in Cost of Carry implies that there was a addition of SHORT positions today.
Nifty Advance Decline Ratio at 10:40 and Nifty Rollover Cost is @25178 closed above it.
Nifty Gann Monthly Trade level :25089 close above it.
Nifty closed below its 50SMA @24971 Trend is Sell on Rise till below 24971
Nifty options chain shows that the maximum pain point is at 25000 and the put-call ratio (PCR) is at 0.72 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 25000 strike, followed by 25200 strikes. On the put side, the highest OI is at the 24700 strike, followed by 24500 strikes. This suggests that the market participants are expecting Nifty 50 to remain range between 24500-25000 levels.
In the cash segment, Foreign Institutional Investors (FII) sold 8293 crores, while Domestic Institutional Investors (DII) bought 13245 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 24600-25310-26063-26816 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.
During this phase of the rule-finding and the clean implementation of your Trading system you are faced with mental conflicts. That’s the hardest part of the Trading education to resolve “Mental Conflicts”.
For Positional Traders, The Nifty Futures’ Trend Change Level is At 25210 . 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 24840 Tgt 24900, 24963 and 25061 ( Nifty Spot Levels)
Sell Below 24729 Tgt 24666, 24610 and 24555 (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.