Bank Nifty Levels for Trading for 21 Feb

By | February 21, 2023 7:28 am

Bank Nifty has done 2 target on downside once the 50% point was broken, We are seeing big underperformance from bank nifty as Bank Nifty has corrected 1399 points from the high of 41979 made on 16-Feb. Price has closed below all 3 moving averages short term trend is down till we again start closing above 41000. We have seen the impact of DOuble Ingress of SUn and Venus as shown in below video.

Bank Nifty Swing Trade Plan as per Intraday Ratio Indicator based on Double Ingress Astro Date 


Intraday time for reversal can be at  9:15/10:59/12:50/1:51/2:36 How to Find and Trade Intraday Reversal Times

Bank Nifty Feb Future Open Interest Volume is at 24.2 lakh with liquidation of 1.03 Lakh contract , with decrease in Cost of Carry suggesting Long  positions were closed today.

Bank Nifty Bulls now need to move above 41231 till than Bears have upper hand.


Bank Nifty as per musical octave trading path can be  40218-40620-41024  take the side and ride the move !!

Maximum Call open interest of 35 lakh contracts was seen at 41000 strike, which will act as a crucial resistance level and Maximum PUT open interest of 26 Lakh contracts was seen at 40500 strike, which will act as a crucial Support level.

MAX Pain is at 41000 and PCR @0.5. Markets tend be range-bound when PCR OI (Open Interest) ranges between 0.90 and 1.05. 

Understand that you will lose on more trades than you will win on; that is just part of the game. If you are the type that always has to be “right” you are going to have a hard time becoming a successful trader. The market is perpetual, it continues on no matter what you think about it with no knowledge that you exist.

For Positional Traders Trend Change Level is 41350 on Futures go long and short above/below it That will help you stay on the side of Institutions and which has a greater risk-reward ratio. For Intraday Traders 41038will act as a Intraday Trend Change Level.

Intraday Trading Levels

Buy Above 40780 Tgt 40936, 41136 and 41323 (Bank Nifty Spot Levels)

Sell Below 40666 Tgt 40555, 40423 and 40225 (Bank Nifty Spot Levels)

As always I wish you maximum health and trading success

Leave a Reply