Bank Nifty Feb 2023 Monthly Expiry Analysis

By | February 22, 2023 8:37 pm

As Discussed in Last Analysis Bank Nifty continue to hold 40500 and price is 4 red bar but now bulls need to move above 41000. Break of 40500-41000 can lead to 500+ point move. Its tough time for trend followers as market are lacklusture. As a trader we need to adjust as per market moves.Bayer Rule 6: The price is in bottom/top when Mars was in 16 degrees 35 minutes of some sign and plus 30 degrees. will come into effect tommorow so first 15 mins High and Low will guide for the day.

First 15 mins High and Low gave the perfect direction as disucced in below video and price is back to 62.5 retracement.

When market is in downtrend, the shorts are at higher level and the longs are always at a loss. Besides the delivery sales also pulls down the market. So on the Expiry day, the shorts are not in a hurry to cover and the “stuck longs” will come in to dump on every bounce.As the Expiry progresses, the ones who are in deep profits aren’t going to come to close their positions. Last Expiry happened on 41647 today Bank Nifty closed at 39995 Since the bears are in 1652+ points in profits this series, part booking happens which at best results in bounces that are unsustainable. 

For Swing Trades Bulls will get active above 40126 for a move towardds 40327/40529. Bears will get active below 39925 for a move towards 39724/39552.

 

Intraday time for reversal can be at  9:15/9:52/11:41/12:45/2:05/2:37 How to Find and Trade Intraday Reversal Times

Bank Nifty Feb Future Open Interest Volume is at 12.9 lakh with liquidation of 6.2 Lakh contract , with decrease in Cost of Carry suggesting Long  positions were closed today.

Bank Nifty as per musical octave trading path can be  40450-40049-39650  take the side and ride the move !!

Maximum Call open interest of 35 lakh contracts was seen at 39500 strike, which will act as a crucial resistance level and Maximum PUT open interest of 28 Lakh contracts was seen at 40500 strike, which will act as a crucial Support level.

MAX Pain is at 40200 and PCR @0.55. 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 40481 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 40211 act as a Intraday Trend Change Level.

Intraday Trading Levels

Buy Above 40068 Tgt 40214, 40383 and 40525 (Bank Nifty Spot Levels)

Sell Below 39888 Tgt 39753, 39525 and 39400 (Bank Nifty Spot Levels)

Upper End of Expiry : 40321

Lower End of Expiry : 39668

As always I wish you maximum health and trading success

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