Foreign Institutional Investors (FIIs) displayed a Bearish approach in the Nifty Index Futures market by Shorting 43906 contracts worth ₹2751 crores, resulting in a increase of 14218 contracts in the net open interest. FIIs covered 14359 long contracts and ADDED 25912 short contracts, indicating a preference for covering long positions and adding short positions. With a net FII long-short ratio of 3.8 , FIIs utilized the market fall to exit long positions and enter short positions in Nifty futures. Clients added 10434 long contracts and covered 11253 short contracts. FII are holding 43 % Long and 57 % Shorts in Index Futures and Clients are holding 59 % Long and 41 % Shorts in Index Futures.
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 found support at the Gann angle, and the Jupiter cycle showed its impact as the price did not break the first 15 minutes low, leading to a volatile session. With crude down 5% overnight, this could be positive for Nifty. Tomorrow, the RBI Policy begins during Jupiter’s retrograde , which could result in a surprise policy affecting Nifty.
Intraday traders should watch the first 15 minutes’ high and low to capture the day’s trend. As long as 24759 is held and the price remains above the 50 SMA, we could see sharp short covering towards 25200/25459.
Nifty Trade Plan for Positional Trade ,Bulls will get active above 25087 for a move towards 25165/25244/25322. Bears will get active below 24930 for a move towards 24851/24772/24694
Traders may watch out for potential intraday reversals at 10:11,10:56,11:58,12:44,02:28 How to Find and Trade Intraday Reversal Times
Nifty Sep Futures Open Interest Volume stood at 1.40 lakh cr , witnessing a addition of 2 Lakh contracts. Additionally, the increase in Cost of Carry implies that there was a addition of SHORT 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 below its 50SMA @25025 Trend is Sell on Rise till below 25025
Nifty options chain shows that the maximum pain point is at 25000 and the put-call ratio (PCR) is at 1.04 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 24800-25200 levels.
In the cash segment, Foreign Institutional Investors (FII) sold 5729 crores, while Domestic Institutional Investors (DII) bought 7000 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 25165. 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 25075 , Which Acts As An Intraday Trend Change Level.
Nifty Intraday Trading Levels
Buy Above 25087 Tgt 25125, 25175 and 25225 ( Nifty Spot Levels)
Sell Below 24975 Tgt 24920, 24866 and 24810 (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.