Foreign Institutional Investors (FIIs) displayed a Bullish approach in the Nifty Index Futures market by Buying 2947 contracts worth ₹179 crores, resulting in a decrease of 645 contracts in the net open interest. FIIs added 10715 long contracts and covered 11989 short contracts, indicating a preference for adding long positions and covering short positions. With a net FII long-short ratio of 0.50, FIIs utilized the market fall to enter long positions and exit short positions in Nifty futures. Clients added 3958 long contracts and covered 7412 short contracts. FII are holding 35 % Long and 65 % Shorts in Index Futures and Clients are holding 65 % Long and 35 % Shorts in Index Futures.
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 formed a DOJI candle with NR7 and closed above an important Gann level of 24,389. The next two days are crucial, based on Bayer’s astro date as discussed in the video below, and we could see a 300–500 point move in Nifty over the next 2–3 trading sessions. Below 24,343, bears will dominate, while above 24,450, bulls will take control.
Bayer Rule 31: The trend changes when Venus in declination reaches an extreme beyond 23 degrees, 26 minutes, and 51 seconds.
Bayer Rule 30: The trend changes when Venus in declination passes the extreme declination of the Sun.
Bayer Rule 9: Major market changes occur when Mercury passes over 19 degrees, 36 minutes of Scorpio and Sagittarius, and also over 24 degrees, 14 minutes of Capricorn.
Nifty Trade Plan for Positional Trade ,Bulls will get active above 24450 for a move towards 24566/24645/24724. Bears will get active below 24350 for a move towards 24251/24108.
Traders may watch out for potential intraday reversals at 09:15,10:17,12:35,01:57,02:45 How to Find and Trade Intraday Reversal Times
Nifty Sep Futures Open Interest Volume stood at 1.28 lakh cr , witnessing a liquidation of 0.86 Lakh contracts. Additionally, the increase in Cost of Carry implies that there was closure of SHORT positions today.
Nifty Advance Decline Ratio at 24:26 and Nifty Rollover Cost is @25178 closed below it.
Nifty Gann Monthly Trade level :25343 close below it.
Nifty closed Below its 100 SMA@24447 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 5062 crores, while Domestic Institutional Investors (DII) bought 3620 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 24680 . 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 24455, Which Acts As An Intraday Trend Change Level.
Nifty Intraday Trading Levels
Buy Above 24424 Tgt 24466, 24498 and 24555 ( 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.