Nifty 29-Dec Trade Plan – Bramesh’s Technical Analysis

Analysis of FIIs’ conduct within the Nifty Index Futures market exhibits a Bearish method as they displayed a choice for SHORT positions. On a internet foundation, FIIs went SHORT 10033 contracts value 1091 crores, leading to an lower of 57812 contracts within the Net Open Interest.

As Discussed in Last Analysis

Double Lunar Date confirmed its impression with Nifty hitting all time excessive once more. Price has retraced the entire transfer on 20 Dec, Tommrow we’ve got final expiry for the 12 months so bulls until holding 21600 can transfer in direction of 21742/21815, Any transfer beneath 21596 will invite revenue reserving. Mars Square Neptune side tmmrow as Mars is planet of vitality we should always see one other 150-200 poinmt transfer in Nifty.

As we method the final buying and selling day of 2023, it has been a exceptional 12 months for Nifty, posting a formidable 8.4% achieve for the month and a considerable 20.3% improve for the whole 12 months, regardless of quite a few geopolitical challenges. For right now, control the quantity 21888, Look for a spike down at 3 PM candle additionally. Wishing you a beautiful New Year celebration, and should you come back in 2024 with renewed vitality and enthusiasm for the market.

Nifty 29-Dec Trade Plan - Bramesh's Technical Analysis

Nifty Trade Plan for Positional Trade ,Bulls will get energetic above 21669 for a transfer in direction of 21742/21815/21888. Bears will get energetic beneath 21596 for a transfer in direction of 21532/21451/21378– Waiting for 21815/21888

Traders might be careful for potential intraday reversals at 9:15,09:55,2:13,2:40 How to Find and Trade Intraday Reversal Times

Nifty Jan Futures Open Interest Volume stood at 1.28 lakh cr, witnessing an addition of twenty-two.9 lakh contracts. Additionally, the rise in Cost of Carry implies that there was an addition of LONG positions right now.

Nifty Advance Decline Ratio at 35:12 and Nifty Rollover Cost is @21719 closed above it.

Nifty Gann Monthly Trend Change Level : 21600

Nifty has closed above all brief time period transferring averages Trend is Buy on dips until we’re holding above 21600.

Nifty 29-Dec Trade Plan - Bramesh's Technical Analysis

Nifty choices chain exhibits that the most ache level is at 21800 and the put-call ratio (PCR) is at 1.02. Typically, when the PCR open curiosity ranges between 0.90 and 1.05, the market tends to stay range-bound.

Nifty 50 Options Chain Analysis

The Nifty 50 choices chain signifies that the best open curiosity (OI) on the decision facet is on the 21800 strike, adopted by 21900 strikes. On the put facet, the best OI is on the 21600 strike, adopted by 21500 strikes. This means that the market contributors expect Nifty 50 to stay vary between 21700-21900 ranges.

In the money section, Foreign Institutional Investors (FII) purchased 4359. crores, whereas Domestic Institutional Investors (DII) purchased 137 crores.

Traders who comply with the musical octave trading path might discover priceless insights in predicting Nifty’s actions. According to this path, Nifty might comply with a path of 20552-21146-21775 This signifies that merchants can take a place and probably journey the transfer as Nifty strikes by way of these ranges.Of course, it is necessary to take into account that buying and selling is inherently dangerous and market actions will be unpredictable.

Nifty 29-Dec Trade Plan - Bramesh's Technical Analysis

We as a human programmed to not settle for our defeat, that’s the core our our evolution we’re in a position to survive due to this psychological coding. You might need seen so many individuals coming again to market after shedding all the things in market. So as a consequence of this it is extremely onerous for us to just accept that we misplaced in a commerce. So we carry on ready for commerce to return in our favour.

For Positional Traders, The Nifty Futures’ Trend Change Level is At 21925, 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 21925, Which Acts As An Intraday Trend Change Level.

Nifty Intraday Trading Levels

Buy Above 21801 Tgt 21827, 21875 and 21900 ( Nifty Spot Levels,

Sell ​​Below 21739 Tgt 21704, 21666 and 21630 (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 choices based mostly on a well-thought-out buying and selling plan and threat administration technique. Market situations can change quickly, and it is essential to be adaptable and cautious in your method.

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