Indian Share Market Prediction:
Where will Fin Nifty go tomorrow?
Fin Nifty Prediction Tomorrow 29 Sep 2023 (Thursday) | Detailed Expert Analysis
Contents:
1. Fin Nifty Today Levels
2. Fin Nifty Candlestick Chart Analysis
3. INDEX FII DII Option Data and Analysis
4. Fin Nifty Open Interest Analysis
5. Option Strategy for Fin Nifty Tomorrow
6. Fin Nifty Prediction for Tomorrow
1. Fin Nifty Today Levels
Fin Nifty Opening, Closing, Day's High, Day's Low
Open: 19808.40Close: 19675.55
Intraday High: 19828.45
Intraday Low: 19469.35
Daily Candlestick type formed: Red candle with small wick. The body of the today's red candle engulfs the previous's days small bodied green candle.
Fin Nifty Support and Resistance Levels for tomorrow
Support 1: 19600Support 2: 19550
Support 3: 19500
Resistance 1: 19830
Resistance 2: 19930
Resistance 3: 20064
2. Fin Nifty Candlestick Chart Analysis For Tomorrow
Just like Nifty and Bank Nifty, Fin Nifty was also downward since the market opened. There was a contanst selling pressure in all the indices with Fin Nifty falling by 0.6%.
Fin Nifty 30 min time-frame chart analysis
The immediate resistance for Fin Nifty is 19830, if Fin Nifty clears it then 19930 will serve as resistance followed by the next resistance of 20064 for tomorrow.
Coming to the supports, 19600 will act as immediate support, and if broken, 19550 and 19500 will act as the next supports for Nifty Financial Services Index (Fin Nifty).
The RSI(14) in 30 min chart is at 54
Fin Nifty 3 hour time-frame chart analysis
Fin Nifty is at a crucial support of 19600. In the intraday, Fin Nifty bounced from 19600 levels, and Fin Nifty may show a bounce from 19600 levels tomorrow. If this support of 19600 breaks then Fin Nifty may see the levels of 19450 and 19300. But, tomorrow Fin Nifty may not give any big moves, and we analyse it to give a bounce of 0.5%
The RSI(14) in 3-hour chart is at 45.5
Fin Nifty 1 day time-frame chart analysis
Fin Nifty has formed a bearish engulfing candle in the daily time frame. This may be indicative of the further downside. In the daily chart, Fin Nifty has formed kind of a head and shoulders pattern, which is a bearish chart pattern, but 19600 is quite a strong support and may not easily break. Fin Nifty has formed a lower swing high of 20573 on 14 Sep and if 19600 support is broken then Fin Nifty will make a lower swing low.
The RSI(14) in the daily chart is at 44.2
3. Fin Nifty FII DII Data Analysis
FII, DII, Client, and Pro Overall INDEX FO Open Interest Data
INDEX Call Options
| Entrant | Long Calls | Short Calls | Net Calls |
|---|---|---|---|
| FII | 672K | 505K | 166K |
| DII | 0K | 0K | 0K |
| Client | 3395K | 3315K | 80K |
| Pro | 1097K | 1343K | -246K |
| Total | 5165K | 5165K | 0K |
INDEX Put Options
| Entrant | Long Puts | Short Puts | Net Puts |
|---|---|---|---|
| FII | 843K | 473K | 370K |
| DII | 107K | 0K | 107K |
| Client | 2092K | 2663K | -570K |
| Pro | 1212K | 1120K | 92K |
| Total | 4256K | 4256K | 0K |
INDEX Futures
| Entrant | Long Futures | Short Futures | Net Futures |
|---|---|---|---|
| FII | 45K | 102K | -57K |
| DII | 47K | 69K | -22K |
| Client | 225K | 165K | 60K |
| Pro | 57K | 38K | 19K |
| Total | 374K | 374K | 0K |
FII INDEX OPTION Activity On 28 Sep (Thursday)
| Long Calls | Short Calls | Net Calls | Long Puts | Short Puts | Net Puts |
|---|---|---|---|---|---|
| -5,93,753 | -6,24,626 | 30,873 | -6,44,382 | -6,79,123 | 34,741 |
FII DII Cash Market/Stocks Activity On 28 Sep 2023 (Thursday)
| Entrant | NET BUY/SELL (in Crores ) |
|---|---|
| FII | -3364.2 |
| DII | +2711.5 |
4. Fin Nifty Open Interest(OI) Analysis
Open Interest Chart for 3 Oct 2023 Expiry (Tuesday)
Spot Price: 19820.1
Max Pain: 19800
PCR (Put Call Ratio): 0.94
Highest Call Option OI at: 20000 (4422K contrats)
Highest Put Option OI at: 19700 (3309 contracts)
India VIX: 12.75 (+10.8%)
5. Option Strategy For Fin Nifty Tomorrow
Finnifty options for tomorrow
We will initiate a put sell at 19600 strike price in the morning tomorrow and will look to square-off at the end of the day.
6. Fin Nifty Prediction For Tomorrow
Summary
Like Nifty and Bank Nifty, Fin Nifty has also formed a bearish engulfing candle, but 19600 being quite a strong support, Fin Nifty might bounce from 19600 tomorrow, so we will look to sell puts in the morning with a strict stop-loss.
ALSO SEE - Bank Nifty Tomorrow Prediction
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Copyright © NiftyPredictions.com | All Rights Reserved.
DO NOT COPY REPUBLISH OR REPRODUCE THIS ARTICLE. The text in this article is protected under Indian Copyright Act, 1957 and Digital Millennium Copyright Act (DMCA).
Copyright © NiftyPredictions.com | All Rights Reserved.
