Foreign Institutional Investors (FIIs) displayed a Bearish approach in the Nifty Index Futures market by Shorting 456 contracts worth ₹26 crores, resulting in a increase of 3480 contracts in the net open interest. FIIs added 2833 long contracts and covered 1359 short contracts, indicating a preference for adding long positions and covering short positions. With a net FII long-short ratio of 0.36 , FIIs utilized the market fall to enter long positions and exit short positions in Nifty futures. Clients covered 16242 long contracts and added 3625 short contracts. FII are holding 25 % Long and 75 % Shorts in Index Futures and Clients are holding 67 % Long and 33 % Shorts in Index Futures.
Nifty experienced the impact of Bayer Rule 2: “Trend goes down within 3 days when the speed difference between Mars and Mercury is 59 minutes, leading to a big move,” with the price retracing the entire move from yesterday. Nifty has been very volatile in recent sessions, with an up day often followed by a full retracement. For traders, this market can be challenging as it requires a high degree of flexibility, which many struggle to maintain.
Tomorrow, we have the weekly close, and both bulls and bears will be fighting hard for the 24,316 level to form a weekly doji, potentially leading to a trending move next week as Venus and Saturn form significant astrological aspects. Today’s FOMC announcement could result in a gap opening tomorrow. A clear trend is likely to emerge with a close above 24,500 favoring the bulls or below 24,150 favoring the bears.
Nifty formed an Outside Bar candle today, with the price holding 24,000 on a closing basis. Strong consolidation is ongoing in Nifty, as the price continues to trade between the 1×1 and 3×4 Gann angles. Today, inflation data is expected to be on the higher side, around 5.80. Additionally, there are three important astro events today that could lead to intraday volatility. The 24,201-24,270 range is critical for both bulls and bears, as it represents a confluence of both the SAP and Gann Monthly TC. As long as bears hold below 24,201, they have the upper hand and could potentially break through the 24,000 level.
Important Astro Events:
- Moon Conjunct North Node — The North Node, also known as Rahu, often brings volatility.
- Bayer Rule 14: “Venus movements in geocentric longitude using a unit of 1°9’13”.”
- Rule No. 38: Mercury Latitude Heliocentric — “Significant tops and bottoms are often produced when Mercury, in this motion, passes certain degrees.”
Intraday traders can watch 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 24202 for a move towards 24279/24356/24433. Bears will get active below 24046 for a move towards 23970/23893/23816.
Traders may watch out for potential intraday reversals at 09:29,10:57,12:44,02:25 How to Find and Trade Intraday Reversal Times
Nifty Sep Futures Open Interest Volume stood at 1.12 lakh cr , witnessing a addition of 0.39 Lakh contracts. Additionally, the increase in Cost of Carry implies that there was closure of LONG positions today.
Nifty Advance Decline Ratio at 20:30 and Nifty Rollover Cost is @25178 closed below it.
Nifty Gann Monthly Trade level :24201 close below it.
Nifty closed above its 100 SMA@24066 Trend is Sell on Rise till below 24201 .
Nifty options chain shows that the maximum pain point is at 24200 and the put-call ratio (PCR) is at 0.88Typically, 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 24200 strike, followed by 24400 strikes. On the put side, the highest OI is at the 24100 strike, followed by 24000 strikes. This suggests that the market participants are expecting Nifty 50 to remain range between 24100-24400 levels.
In the cash segment, Foreign Institutional Investors (FII) sold 2306 crores, while Domestic Institutional Investors (DII) bought 2026 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.
To create money management, position size calculation or the elaboration of a profitable set of rules. All of these very useful tools are of little help if you are not able to use them in a disciplined manner
For Positional Traders, The Nifty Futures’ Trend Change Level is At 24291 . 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 24368, Which Acts As An Intraday Trend Change Level.
Nifty Intraday Trading Levels
Buy Above 24150 Tgt 24190, 24241 and 24300 ( Nifty Spot Levels)
Sell Below 24100 Tgt 24066, 24008 and 23956 ( 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.