Sun Conjunct Mercury: Nifty 22 Dec 2023 Trade Plan – Bramesh’s Technical Analysis

Analysis of FIIs’ conduct within the Nifty Index Futures market exhibits a Bearish method as they displayed a desire for SHORT positions. On a internet foundation, FIIs went SHORT 2810 contracts price 301 crores, leading to a lower of 6290 contracts within the Net Open Interest.

As Discussed in Last Analysis

Bank Nifty skilled a considerable pullback, with costs almost retracing 62.5 % of the whole decline. Bulls goal to surpass the 48000 degree for a possible transfer in direction of the all-time excessive. On the weekly chart, the open equaled the excessive, indicating a important degree. Bears may assert management if the index falls under 47786, notably within the final hour, in accordance with the mentioned ranges.

Today marks Bayer Rule 22: a pattern shift happens when retrograde Mercury crosses over the Sun. With Sun Conjunct Rx Mer and Sun Conjunct Mercury, involving two facets of Mercury, we anticipate one other unstable market transfer. Intraday merchants ought to monitor the primary quarter-hour’ excessive and low to seize the day’s pattern.

Nifty skilled a considerable pullback, with costs almost retracing 50% of the whole decline. Bulls goal to surpass the 21300 degree for a possible transfer in direction of the all-time excessive. On the weekly chart, the open equaled the excessive, indicating a important degree. Bears may assert management if the index falls under 21181, notably within the final hour, in accordance with the mentioned ranges.

Today marks Bayer Rule 22: a pattern shift happens when retrograde Mercury crosses over the Sun. With Sun Conjunct Rx Mer and Sun Conjunct Mercury, involving two facets of Mercury, we anticipate one other unstable market transfer. Intraday merchants ought to monitor the primary quarter-hour’ excessive and low to seize the day’s pattern.

Sun Conjunct Mercury: Nifty 22 Dec 2023 Trade Plan - Bramesh's Technical Analysis

Bank Nifty Trade Plan for Positional Trade ,Bulls will get lively above 48002 for a transfer in direction of 48219/48436. Bears will get lively under 47786 for a transfer in direction of 47569/47352/47136

Traders might be careful for potential intraday reversals at 9:48,11:08,12:43,2:18 How to Find and Trade Intraday Reversal Times

Nifty Dec Futures Open Interest Volume stood 1.10 lakh, liquidation of 0.96 lakh contracts. Additionally, the lower in Cost of Carry implies that there was a masking of LONG positions as we speak.

Nifty Advance Decline Ratio at 35:15 and Nifty Rollover Cost is @21230 closed above it.

Nifty Gann Monthly Trend Change Level : 20729

Nifty has closed above all quick time period shifting averages Trend is Buy on dips until we’re holding above 21225. , Bears broke 21225 until its not captured it turned promote on rise market.

Sun Conjunct Mercury: Nifty 22 Dec 2023 Trade Plan - Bramesh's Technical Analysis

Traders who observe the musical octave trading path might discover worthwhile insights in predicting Nifty’s actions. According to this path, Nifty might observe a path of 20552-21146-21775 This signifies that merchants can take a place and doubtlessly experience the transfer as Nifty strikes by means of these ranges.Of course, it is vital to remember the fact that buying and selling is inherently dangerous and market actions might be unpredictable.

Sun Conjunct Mercury: Nifty 22 Dec 2023 Trade Plan - Bramesh's Technical Analysis

According to the Bank Nifty choices chain, the decision aspect has the very best open curiosity (OI) on the 21300 strike, adopted by the 21400 strike. On the put aspect, the 21100 strike has the very best OI, adopted by the 21000 strike.This signifies that market members anticipate Bank Nifty to remain inside the 47500-48000 vary.

The Bank Nifty choices chain exhibits that the utmost ache level is at 21250 and the put-call ratio (PCR) is at 0.80 , Typically, when the PCR open curiosity ranges between 0.90 and 1.05, the market tends to stay range-bound. PCR is on excessive finish suggesting we will see sharp reversal.

Traders at all times goal for holy grail in buying and selling. They suppose that would be the reply for all their hardships they’re going through due to buying and selling monetary markets.

For Positional Traders, The Bank Nifty Futures’ Trend Change Level is At 21031 , 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 21239, Which Acts As An Intraday Trend Change Level.

financial institution Nifty Intraday Trading Levels

Buy Above 21280 Tgt 21320, 21355 and 21380 ( Bank Nifty Spot Levels,

Sell ​​Below 21220 Tgt 21185, 21150 and 21100 (Bank Nifty Spot Levels)

Wishing you good well being and buying and selling success as at all times.As at all times, prioritize your well being and commerce with warning.

As at all times, it is important to carefully monitor market actions and make knowledgeable selections primarily based on a well-thought-out buying and selling plan and danger administration technique. Market circumstances can change quickly, and it is essential to be adaptable and cautious in your method.

Source link

#Sun #Conjunct #Mercury #Nifty #Dec #Trade #Plan #Brameshs #Technical #Analysis