Foreign Institutional Investors (FIIs) displayed a Bearish approach in the Nifty Index Futures market by Shorting 5722 contracts worth ₹356 crores, resulting in a Decrease of 5600 contracts in the net open interest. FIIs covered 3397 long contracts and added 2309 short contracts, indicating a preference for covering long positions and adding short positions. With a net FII long-short ratio of 0.53, FIIs utilized the market fall to exit long positions and enter short positions in Nifty futures. Clients covered 2837 long contracts and covered 16086 short contracts. FII are holding 33 % Long and 67 % Shorts in Index Futures and Clients are holding 65 % Long and 35 % Shorts in Index Futures.
Nifty demonstrated the impact of Venus Ingress, with the price moving above the 15-minute high, leading to a significant upward move. We also observed Bayer Rule 14: Venus Movements in Geocentric Longitude Using a Unit of 1°9’13”, alongside the Gann 1-year cycle, as explained in the video below. This suggests a short-term bottom may be in place if Nifty closes above 24,950–25,000 in the next two trading sessions. However, if the price falls below 24,729, the bears could regain the upper hand.
Nifty again failed to close above Venus Ingress high and again we are seeing selling at higher level, FII are selling for 16th day in a row.Yesterday, HDFC Bank and Reliance prevented Nifty from a deeper decline, despite Kotak and other banks weakening. Tomorrow, we have the Sun’s ingress into Scorpio, a water sign, which typically signals bearishness.
PSU Banks and PSU stocks should be closely watched. Below 24,555, bears will gain the upper hand, while bulls will take control above 24,886, the Venus Ingress High. For today, keep an eye 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 24881 for a move towards 24959/25037/25116. Bears will get active below 24724 for a move towards 24646/24567/24484.
Traders may watch out for potential intraday reversals at 09:37,10:30,11:29,12:57,02:42 How to Find and Trade Intraday Reversal Times
Nifty Sep Futures Open Interest Volume stood at 1.29 lakh cr , witnessing a liquidation of 3.5 Lakh contracts. Additionally, the increase in Cost of Carry implies that there was a closure of SHORT positions today.
Nifty Advance Decline Ratio at 15:35 and Nifty Rollover Cost is @25178 closed below it.
Nifty Gann Monthly Trade level :25343 close below it.
Nifty closed Below its 50SMA @25118 Trend is Buy on Dips till above 24729
Nifty options chain shows that the maximum pain point is at 24800 and the put-call ratio (PCR) is at 0.95 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 24900 strike, followed by 25000 strikes. On the put side, the highest OI is at the 24600 strike, followed by 24500 strikes. This suggests that the market participants are expecting Nifty 50 to remain range between 24600-25000 levels.
In the cash segment, Foreign Institutional Investors (FII) sold 2261 crores, while Domestic Institutional Investors (DII) bought 3225 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.
As a trading psychologist, I therefore see my job not in telling you why it is, but in how you can help yourself to find your own solutions to your problems.
For Positional Traders, The Nifty Futures’ Trend Change Level is At 25363. 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 24841, Which Acts As An Intraday Trend Change Level.
Nifty Intraday Trading Levels
Buy Above 24816 Tgt 24850, 24888 and 25920 ( Nifty Spot Levels)
Sell Below 24763 Tgt 24729, 24685 and 24630 (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.