Foreign Institutional Investors (FIIs) displayed a Bullish approach in the Nifty Index Futures market by Buying 34829 contracts worth ₹ 2119 crores, resulting in a increase of 20883 contracts in the net open interest. FIIs added 21318 long contracts and covered 24344 short contracts, indicating a preference for adding long positions and covering short positions. With a net FII long-short ratio of 0.31, FIIs utilized the market rise to enter long positions and exit short positions in Nifty futures. Clients covered 61002 long contracts and covered 2081 short contracts. FII are holding 37 % Long and 63 % Shorts in Index Futures and Clients are holding 64 % Long and 36 % Shorts in Index Futures.
Nifty saw a perfect bounce from the 200 SMA and Pre Exit election day High of 23350 as shown in the chart below. This alignment highlights the precision of Gann levels, offering a strong indication of market direction. Additionally, with the Sun entering Sagittarius, a bullish zodiac sign, bulls regained momentum on Friday, as discussed in the video.
The 24201-24270 range is now a crucial resistance zone for Nifty as its Monthly Gann TC and SAP Level. If bulls manage to close above this level, the price is expected to rally toward the 24444-24525 range, making it a critical level to watch for traders.
Political Impact: Maharashtra Election and Market Stability
Maharashtra, often referred to as the financial capital of India, plays a pivotal role in shaping the country’s political and economic landscape. The recent BJP-led NDA victory in Maharashtra reinforces political stability, a key factor for market sentiment.
Political stability ensures policy continuity and fosters confidence among both domestic and foreign investors. This stability supports sectors tied to Maharashtra’s economy, such as infrastructure, banking, and real estate, strengthening the broader market outlook.
The impact of Astro and Gann Cycles, which we have been discussing in previous analyses, led to a sharp rally in Nifty. From a low of 23,263, the index rallied to 24,351 in just three trading sessions.
This demonstrates the power of combining Gann and Astro time cycles with price analysis to capture big trends in the market. Always look for the confluence of time and price cycles to identify high-probability setups and capitalize on major moves.
Tomorrow, the Mercury Retrograde impact, as discussed in the video below, is expected to bring heightened volatility to the markets.
Currently, Nifty is trading near its SAP and Monthly Gann TC confluence level of 24,201-24,270, which is a critical range for the next two trading sessions.
- For Bulls: A close above 24,270 could trigger a quick move toward 24,389/24,500/24,729.
- For Bears: A close below 24,166 could lead to a sharp decline toward 24,050/23,900.
Traders should closely monitor these levels to make well-informed trading decisions.
Fatigue Management for Traders: Sleep Your Way to Peak Performance
Nifty Trade Plan for Positional Trade ,Bulls will get active above 24290 for a move towards 24368/24446/24523. Bears will get active below 24117 for a move towards 24039/23961/23883.
Traders may watch out for potential intraday reversals at 10:01,11:22,01:23,02:42 How to Find and Trade Intraday Reversal Times
Nifty Nov Futures Open Interest Volume stood at 0.93 lakh cr , witnessing a liquidation of 6.8 Lakh contracts. Additionally, the increase in Cost of Carry implies that there was covering of SHORT positions today.
Nifty Advance Decline Ratio at 41:09 and Nifty Rollover Cost is @25178 closed below it.
Nifty Gann Monthly Trade level :24201 close above it.
Nifty has closed above its 20 SMA @ 24032 Trend is Buy on Dips till above 24000.
Nifty options chain shows that the maximum pain point is at 24200 and the put-call ratio (PCR) is at 1.02Typically, 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 24300 strike, followed by 24500 strikes. On the put side, the highest OI is at the 24000 strike, followed by 23800 strikes. This suggests that the market participants are expecting Nifty 50 to remain range between 24000-24400 levels.
In the cash segment, Foreign Institutional Investors (FII) bought 9947 crores, while Domestic Institutional Investors (DII) sold 6907 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 23408-24105-24801 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.
A professional trader isolates himself from the herd and has trained himself to become a predator rather than a victim. He understands and recognizes principles that drive the markets and refuses to be misled by good or bad news, tips, advice, brokers advice and well-meaning friends. When the market is being shaken-out on bad news he is in there buying. When the Herd is buying and the news is good he is looking to sell.
For Positional Traders, The Nifty Futures’ Trend Change Level is At 24023. 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 24269, Which Acts As An Intraday Trend Change Level.
Nifty Intraday Trading Levels
Buy Above 24266 Tgt 24299, 24343 and 24385 ( Nifty Spot Levels)
Sell Below 24225 Tgt 24199, 24144 and 24101 ( 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.