Nifty Trade Plan for 02 Feb – Bramesh’s Technical Analysis

Analysis of FIIs’ habits within the Nifty Index Futures market reveals a Bullish method as they displayed a desire for LONG positions. On a internet foundation, FIIs went LONG 8576 contracts value 220 crores, leading to a rise of 3272 contracts within the Net Open Interest.

As Discussed in Last Analysis

Tommrow we’ve got essential Bayer Rule 9: Big adjustments on market are when Mercury passes over 19 levels 36 minutes of Scorpio and Sagittarius,additionally over 24 levels 14 minutes of Capricorn. Nifty bounced from gann angle help zone as proven in beneath chart. Tommrow to seize development give attention to first 15 minutes High and low to seize development. Make positive commerce with proper positon dimension as we can have excessive volatility. Also attempt to commerce after Finance Minister stops talking and we are going to see possibility premium decay after FM completes its speech. Betwenn 1-1:15 we will see change in development.

Nifty fashioned DOJI on Budget day and we are going to open hole up immediately. With Government saying they may borrow much less and bond yields are coming down its good for PSU’s financial institution. With hole up immediately 21950 is essential degree to be careful for, for this downtrend to recover from. Monday Mercury is altering signal so take in a single day positon with Hedge.

Nifty Trade Plan for 02 Feb - Bramesh's Technical Analysis

Nifty Trade Plan for Positional Trade, Bulls will get energetic above 21815 for a transfer in direction of 21888/21961/22034. Bears will get energetic beneath 21750 for a transfer in direction of 21688/21595/21522/21448.

Traders could be careful for potential intraday reversals at 09:23,10:39,11:37,12:30,2:23 How to Find and Trade Intraday Reversal Times

Nifty Feb Futures Open Interest Volume stood at 1.13 lakh cr, witnessing an addition of 0.95 Lakh contracts. Additionally, the rise in Cost of Carry implies that there was an addition of LONG positions immediately.

Nifty Advance Decline Ratio at 46:04 and Nifty Rollover Cost is @21592 closed above it.

Nifty Gann Monthly Trend Change Level: 21749– CLosed beneath it.

Nifty has closed beneath its above DMA 21633

Nifty Trade Plan for 02 Feb - Bramesh's Technical Analysis

Nifty choices chain reveals that the most ache level is at 21800 and the put-call ratio (PCR) is at 0.90. 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 very best open curiosity (OI) on the decision facet is on the 21800 strike, adopted by 22000 strikes. On the put facet, the very best OI is on the 21500 strike, adopted by 21300 strikes. This means that the market contributors predict Nifty 50 to stay vary between 21300-22000 ranges.

In the money phase, Foreign Institutional Investors (FII) offered 1879 crores, whereas Domestic Institutional Investors (DII) purchased 872 crores.

Traders who comply with the musical octave trading path could discover priceless insights in predicting Nifty’s actions. According to this path, Nifty could comply with a path of 21146-21775-22404 This signifies that merchants can take a place and probably trip the transfer as Nifty strikes by way of these ranges.Of course, it is essential to needless to say buying and selling is inherently dangerous and market actions will be unpredictable.

Nifty Trade Plan for 02 Feb - Bramesh's Technical Analysis

Studies present that merchants keep away from threat when profitable and search threat when shedding. This is the precise reverse of what must be finished to maintain within the markets. We should reprogram ourselves and create habits which might be unnatural till they change into our second nature.

For Positional Traders, The Nifty Futures’ Trend Change Level is At 21711 , 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 21809, Which Acts As An Intraday Trend Change Level.

Nifty Intraday Trading Levels

Buy Above 21950 Tgt 21980, 22022 and 22056 ( Nifty Spot Levels,

Sell ​​Below 21900 Tgt 21864, 21824 and 21750 (Nifty Spot Levels)

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

As all the time, it is important to intently 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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