Foreign Institutional Investors (FIIs) displayed a Bearish approach in the Nifty Index Futures market by Shorting 8245 contracts worth ₹515 crores, resulting in a decrease of 5137 contracts in the net open interest. FIIs covered 8598 long contracts and added 1837 short contracts, indicating a preference for covering long positions and addition short positions. With a net FII long-short ratio of 0.55, FIIs utilized the market fall to exit long positions and enter short positions in Nifty futures. Clients added 11092 long contracts and added 3962 short contracts. FII are holding 33 % Long and 67 % Shorts in Index Futures and Clients are holding 62 % Long and 38% Shorts in Index Futures.
Nifty failed to close above 25,159, the Mercury Ingress High, and 25,192, the Gann Monthly Trend Change level, as the price was rejected again from the 25,212–25,235 range, which marks the RBI Day High and Jupiter Declination High. However, the price is holding above 24,947, the Jupiter Declination Low. The next two days are crucial, with a confluence of Gann and astro cycles: 90 trading days (TD) from the 4th June low, 242 TD from the 26th October low, and the lunar cycle on the 17th of October. Be prepared for a big move in the next two trading sessions.
Nifty formed a DOJI, and we have a confluence of time cycles—both Gann and astro— as discussed in the video below. The price has been stuck in the 25,235–24,900 range for the last seven trading sessions. With the convergence of price and time, this range is likely to break within the next two days. A break below 24,900 could lead to a fall towards the recent swing low of 24,700, while holding above this level could trigger a rally towards 25,343/25,400 once the price clears 25,050.
Intraday traders should focus on 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 25008 for a move towards 25087/25165/25244. Bears will get active below 24930 for a move towards 24851/24772/24694
Traders may watch out for potential intraday reversals at 09:39,10:50,11:55,12:35,02:36 How to Find and Trade Intraday Reversal Times
Nifty Sep Futures Open Interest Volume stood at 1.37 lakh cr , witnessing a addition of 1.1 Lakh contracts. Additionally, the increase in Cost of Carry implies that there was a addition of SHORT positions today.
Nifty Advance Decline Ratio at 17:33 and Nifty Rollover Cost is @25178 closed below it.
Nifty Gann Monthly Trade level :25343 close below it.
Nifty closed Below its 50SMA @25045 Trend is Buy on Dips till above 24900
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 25000 strike, followed by 25100 strikes. On the put side, the highest OI is at the 24900 strike, followed by 24800 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) sold 3435 crores, while Domestic Institutional Investors (DII) bought 2256 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.
The first losses leave the deepest traces. Over time, however, you get used to it and the subsequent losses are no longer perceived with the same intensity, no matter how great they may be. The trader feels indifferent: “Oh, it doesn’t matter whether I lose the money or not!”
For Positional Traders, The Nifty Futures’ Trend Change Level is At 25473. 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 25072, Which Acts As An Intraday Trend Change Level.
Nifty Expiry Range
Upper End of Expiry : 25141
Lower End of Expiry : 24800
Nifty Intraday Trading Levels
Buy Above 25001 Tgt 25040, 25085 and 25123 ( Nifty Spot Levels)
Sell Below 24940 Tgt 24915, 24880 and 24840 (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.