Foreign Institutional Investors (FIIs) displayed a Bearish approach in the Nifty Index Futures market by shorting 2393 contracts worth ₹148 crores, resulting in a increase of 1881 contracts in the net open interest. FIIs added 3394 long contracts and added 2513 short contracts, indicating a preference for adding long positions and adding short positions. With a net FII long-short ratio of 0.49, FIIs utilized the market fall to enter long positions and enter short positions in Nifty futures. Clients covered 3533 long contracts and covered 3634 short contracts. FII are holding 33 % Long and 67 % Shorts in Index Futures and Clients are holding 64 % Long and 36 % Shorts in Index Futures.
Nifty once again failed to close above the Venus Ingress High of 24,886, with the high reaching only 24,882. Just as the Hyundai IPO was listed at 10 AM, the price made a top and saw a sharp decline, breaking Friday’s low of 24,567 and closing well below its 100 DMA at 24,544. We also witnessed the impact of the Sun’s ingress into Scorpio, a water sign, which often signals bearishness.
For today, as long as the price remains below the 24,550–24,567 range, the bears will have the upper hand, and we could see a decline towards the 24,389/24,270 range. Additionally, Mercury is at aphelion today, a position that has historically marked key turning points, as shown in the video below. The first 15 minutes’ high and low will provide guidance for the day’s trend.
Nifty continue to make lower lows and for 2 day in row closed below its 100 SMA, Price need to close above 24550-24567 range else bears will take nifty towards 24389-24247 range. Bayer Rule 31: The trend changes when Venus in declination reached an extreme beyond 23 degrees 26 minutes 51 seconds.will come into effect tommrow. The first 15 minutes’ high and low will provide guidance for the day’s trend. Whole week is astro heavy and we are seeing good volatlity in the Nifty due to the same.
Nifty Trade Plan for Positional Trade ,Bulls will get active above 24487 for a move towards 2456624645/24724. Bears will get active below 24408 for a move towards 24329/24251
Traders may watch out for potential intraday reversals at 09:15,10:22,11:37,12:25,01:14,02:44 How to Find and Trade Intraday Reversal Times
Nifty Sep Futures Open Interest Volume stood at 1.28 lakh cr , witnessing a addition of 2.5 Lakh contracts. Additionally, the increase in Cost of Carry implies that there was closure of SHORT positions today.
Nifty Advance Decline Ratio at 20:30 and Nifty Rollover Cost is @25178 closed below it.
Nifty Gann Monthly Trade level :25343 close below it.
Nifty closed Below its 100 SMA@24429 Trend is Sell on Rise till below 24600
Nifty options chain shows that the maximum pain point is at 24400 and the put-call ratio (PCR) is at 0.81 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 24500 strike, followed by 24600 strikes. On the put side, the highest OI is at the 24400 strike, followed by 24300 strikes. This suggests that the market participants are expecting Nifty 50 to remain range between 24300-24600 levels.
In the cash segment, Foreign Institutional Investors (FII) sold 5684 crores, while Domestic Institutional Investors (DII) bought 6039 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 23889-24600-25310-26063-26816 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 24766 . 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 24556, Which Acts As An Intraday Trend Change Level.
Nifty Expiry Range
Upper End of Expiry : 24621
Lower End of Expiry : 24248
Nifty Intraday Trading Levels
Buy Above 24454 Tgt 24488, 24525 and 24576 ( Nifty Spot Levels)
Sell Below 24385 Tgt 24343, 24303and 24250 ( 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.