Nifty 23 May 2024 Weekly Expiry Analysis - Bramesh's Technical Analysis (2024)

Nifty 23 May 2024 Weekly Expiry Analysis - Bramesh's Technical Analysis (1)

Foreign Institutional Investors (FIIs) displayed a Bullish approach in the Nifty Index Futures market by buying 11179 contracts worth ₹631 crores, resulting in a increase of 8451 contracts in the net open interest. FIIs covered 5948 long contracts and added 1833 short contracts, indicating a preference for exiting long positions and adding short positions. With a net FII long-short ratio of .35, FIIs utilized the market rise to exit long positions and enter short positions in Nifty futures. Clients added 6712 long contracts and added 15912 short contracts.

As Discuused in Last Analysis

22307 is octave point and 22313 is #gann monthly tc level #bulls need to close above 22323 for a move higher … today we have #gann time cycle date from 15 Sep High also potential price time squaring on cards.

Nifty saw a volatile session today. Tomorrow will be a crucial day as a lot of astrological events are happening, as discussed in the video below:

– Full Moon
– Venus Ingress
– Jupiter Opposition Moon
– Venus Conjunct Jupiter
– Jupiter Sextile Neptune
– Venus Sextile Neptune

We can expect a volatile move. Traders should watch out for the first 15 minutes’ high and low to capture the trend for the day. Jupiter is the planet for Bank Nifty, so banks should see a good move tomorrow.

Nifty 23 May 2024 Weekly Expiry Analysis - Bramesh's Technical Analysis (2)

Nifty Trade Plan for Positional Trade ,Bulls will get active above 22644 for a move towards 22719/22794/22868. Bears will get active below 22495 for a move towards 22420/22385/22300.

Traders may watch out for potential intraday reversals at 09:45,11:50,12:23,1:31,2:36 How to Find and Trade Intraday Reversal Times

Nifty April Futures Open Interest Volume stood at 0.97 lakh cr , witnessing a liquidation of 1.2 Lakh contracts. Additionally, the increase in Cost of Carry implies that there was a liquidation of LONG positions today.

Nifty Advance Decline Ratio at 30:20 and Nifty Rollover Cost is @22514 closed above it.

Nifty Gann Monthly Trade level :22320 close above it.

Nifty closed below 20 SMA @22319 but closed above 50/100 SMA , Trend is Neutral.

Nifty 23 May 2024 Weekly Expiry Analysis - Bramesh's Technical Analysis (3)

Nifty options chain shows that the maximum pain point is at 22600 and the put-call ratio (PCR) is at 1.11. Typically, 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 22600 strike, followed by 22700 strikes. On the put side, the highest OI is at the 22400 strike, followed by 22300 strikes. This suggests that the market participants are expecting Nifty 50 to remain range between 22300-22800 levels.

According To Todays Data, Retailers Have sold 165 K Call Option Contracts And 144 K Call Option Contracts Were Shorted by them. Additionally, They sold 614 K Put Option Contracts And 666 K Put Option Contracts were Shorted by them, Indicating A BUllish Bias.

In Contrast, Foreign Institutional Investors (FIIs) sold 237 K Call Option Contracts And 324 K Call Option Contracts Were Shorted by them. On The Put Side, FIIs sold 184 K Put Option Contracts And 194 K Put Option Contracts were Shorted by them, Suggesting They Have Turned To Neutral Bias.

In the cash segment, Foreign Institutional Investors (FII) sold 686 crores, while Domestic Institutional Investors (DII) bought 961 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 21775-22404-23071 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.

Nifty 23 May 2024 Weekly Expiry Analysis - Bramesh's Technical Analysis (4)

Trading is just a number game based on the odds so as a trader you should not put significance to one particular trade.

For Positional Traders, The Nifty Futures’ Trend Change Level is At 22473. 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 22630, Which Acts As An Intraday Trend Change Level.

Nifty Expiry Range

Upper End of Expiry : 22853

Lower End of Expiry : 22436

Nifty Intraday Trading Levels

Buy Above 22630 Tgt 22666, 22699 and 22729 ( Nifty Spot Levels)

Sell Below 22610 Tgt 22575, 22529 and 22485 (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.


Nifty 23 May 2024 Weekly Expiry Analysis - Bramesh's Technical Analysis (2024)


What is prediction for Nifty? ›

Based on these momentums, she expects the Nifty to find key support between 23,240 and 23,000 levels in the next trading session, and face resistance between 23,450 and 23,610.

How to analyse Nifty data? ›

Readings above 80 indicate a security is overbought. Readings between 55 & 80 indicate Bullish condition. Readings between 45 & 55 indicate Neutral condition.Readings between 20 & 45 indicate Bearish condition.Readings below 20 indicate a security is oversold.

How long can I hold Nifty futures? ›

BANKNIFTY futures contracts have a maximum of 3-month trading cycle - the near month (one), the next month (two) and the far month (three). A new contract is introduced on the trading day following the expiry of the near month contract. BANKNIFTY futures contracts expire on the last Wednesday of the expiry month.

What is the prediction of Banknifty on 8th May? ›

Bank Nifty futures is expected to fall to 47,200 in the short-term. Bank Nifty began today's session slightly lower at 48,124 versus yesterday's close of 48,285. The index is now at 47,920, down 0.75 per cent. The advance/decline ratio of this index stands at 4/8, a bearish sign.

What is the Prediction of Nifty 50 in 2025? ›

The Indian stock market's premium valuation is justified by cyclical and structural tailwinds and the benchmark Nifty 50 may reach the 25,200 level by March 2025, says UBS analyst in its India monthly outlook.

How do you know if Nifty will rise or fall? ›

Nifty's prices go up or down depending on whether the market is optimistic (bullish) or pessimistic (bearish). However, these price changes are not usually straightforward, as Nifty can swing a lot in the short term. NIFTY INDEX trading can be made more accessible with the help of trading patterns.

How does Warren Buffett Analyse stocks? ›

Over the decades, Buffett has refined a holistic approach to assessing a company—looking not just at earnings, but its overall health, its deficiencies as well as its strengths. He focuses more on a company's characteristics and less on its stock price, waiting to buy only when the cost seems reasonable.

Should I hold futures overnight? ›

Overnight trading in the futures markets can provide potential opportunities to take advantage of news events that happen while the U.S. equity markets are closed, but it can also bring risk of lower liquidity with lower trading volume and wider bid-ask spreads.

What is the 3:30 formula in Bank Nifty? ›

The "3:30 formula" is a trading strategy used by some traders in the Indian stock market, specifically for Bank Nifty futures. The strategy involves placing trades at or around 3:30 PM with the aim of profiting from any potential overnight movements in the market.

What happens if you don't exit Nifty options on expiry? ›

In the case of options contracts, you are not bound to fulfil the contract. As such, if the contract is not acted upon within the expiry date, it simply expires. The premium that you paid to buy the option is forfeited by the seller.

What is the nifty 50 prediction for 9 May 2024? ›

Nifty 50 Futures

The outlook is bearish. Strong resistance is in the 22,300-22,350 region. The contract can fall to 22,000 in the next few sessions.

What is the market on 8 May 2024? ›

Declining for the second straight session, the 30-share BSE Sensex fell 45.46 points or 0.06 per cent to settle at 73,466.39. During the day, it went lower by 437.93 points or 0.59 per cent to 73,073.92. The NSE Nifty remained unchanged at 22,302.50.

Which time frame is good for Bank Nifty? ›

The ideal time for intraday trading, according to stock market analysts, is between 10.15 a.m. and 2.30 p.m. This is because by 10.00 a.m. to 10.15 a.m., morning stock volatility has subsided.

What is future Nifty? ›

Nifty Futures is a contract that allows you to buy or sell the Nifty 50 index at a predetermined price and date in the future. It is a type of futures contract involving an agreement between two parties to buy or sell an asset at a specific price at a specific time.

Is Nifty positive or negative today? ›

NIFTY (23,259) NIFTY is currently in Positive trend. If you are holding long positions then continue to hold with daily closing stoploss of 22859. Fresh short position can be initiated if NIFTY closes below 22859 levels.

Is tomorrow bank Nifty bullish or bearish? ›

Tomorrow's movement Prediction of Nifty Bank NIFTY_BANK appears to be in uptrend. But this trend seems to be weakening. Price is above an important level of 49089.7 on charts, and as long as price remains above this level, the uptrend of stock might continue.

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