Finance Nifty has closed above 23,824 (Jupiter Declination High) but failed to close above 23,921 (Gann Annual TC level). Finance Nifty has formed an NR7 pattern today and we can see an explosive expiry once price starts trading above 23921 for 15 mins. Above 24000 we can see a big spike towards 24131/24231.
Finance Nifty Trade Plan for Positional Trade ,Bulls will get active above 23934 for a move towards 24011/24088/24164 . Bears will get active below 23816 for a move towards 23707/23630/23555.
Traders may watch out for potential intraday reversals at 10:06,11:31,1:24,02:50 How to Find and Trade Intraday Reversal Times
Finance Nifty September Futures Open Interest Volume stood at 54525 with liquidation of 2075 contracts. Additionally, the increase in Cost of Carry implies that there was a liquidation of SHORT positions today.
Finance Nifty Advance Decline Ratio at 11:08, Finance Nifty Rollover Cost is @23628 closed above it
Finance Nifty Gann Monthly Trade level :23921 close below it.
Finance Nifty closed ABOVE 50 SMA, Trend is Buy on Dips till above 23607.
Traders who follow the musical octave trading path may find valuable insights in predicting Bank Nifty’s movements. According to this path, Finance Nifty may follow a path of 22964-23648-24331. This means that traders can take a position and potentially ride the move as Bank 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.
According to the Finance Nifty options chain, the call side has the highest open interest (OI) at the 23900 strike, followed by the 24000 strike. On the put side, the 23800 strike has the highest OI, followed by the 23700 strike. This indicates that market participants anticipate Finance Nifty to stay within the 23800-24100 range.
The Finance Nifty options chain shows that the maximum pain point is at 23900 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.
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 Trading needs Concentration and preparation. If you do it spontaneously, you will likely to be unsuccessful.
For Positional Traders, The Finance Nifty Futures’ Trend Change Level is At 23862. 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 23941, Which Acts As An Intraday Trend Change Level.
FIN Nifty Expiry Range
Upper End of Expiry : 24039
Lower End of Expiry : 23862
FIN Nifty Intraday Trading Levels
Buy Above 23888 Tgt 23925, 23955 and 24000 ( FIN Nifty Spot Levels)
Sell Below 23824 Tgt 23792, 23759 and 23729 (FIN 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.