Bank Nifty Weekly Expiry Analysis: Key Trends and Trading Opportunities

By | April 13, 2023 8:59 am

As Discussed in Last Analysis   Gann Angle Propels Bank Nifty’s Bounce from 1×1 Gann Angle As we had multiple astro date today so till today low is Held Bulls have upper hand. Price continues to move higher. On 12th March, it was 25% of Gann Octave time from 14th December 2022 until 16th March 2023. The levels of 41300-41332 should be set as stop loss for any long positions. The VIX (Volatility Index) is currently very low, and any upward movement can lead to a significant downside move, which may be fast. Therefore, it’s crucial to keep a stop loss in the system. Ride the trend until it bends, but maintain a tight stop loss. Additionally, Jupiter and Earth are at maximum declination today, so monitoring the first 15 minutes high and low can be helpful in trading.



Swing Traders need to move above 41400 for a move towards 42074. Bears will get chance below 41300 for a move towards 40690 Based on Gann Octave Point —  Bulls were able to close above 41400 Waiting for Higher target till 41400 is held.


Traders may watch out for potential intraday reversals at 9:44,11:12,12:09,1:03,2:12  How to Find and Trade Intraday Reversal Times

Bank Nifty April Futures Open Interest Volume stood at 20.8 lakh, liquidation of 0.68 lakh contracts. Additionally, the increase in Cost of Carry implies that there was a closure of longs positions today. Volume in Bank NIfty were Lowest in whole series

Traders who follow the musical octave trading path may find valuable insights in predicting Bank Nifty’s movements. According to this path, Bank Nifty may follow a path of 38227-39332-40502-41672. This means that traders can take a position and potentially ride the move as Bank 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. Approaching near 41672

According to the Bank Nifty options chain, the call side has the highest open interest (OI) at the 41500 strike, followed by the 41800 strike. On the put side, the 41300 strike has the highest OI, followed by the 41000 strike. This indicates that market participants anticipate Bank Nifty to stay within the   41800-41300 range.

The Bank Nifty options chain shows that the maximum pain point is at 41500 and the put-call ratio (PCR) is at 0.86. Typically, when the PCR open interest ranges between 0.90 and 1.05, the market tends to remain range-bound. PCR is on extreme end suggesting we can see sharp reversal .

Trading discipline” comes from modifying one’s behaviour in a desired direction and overcoming the mental resistance and fear that generally get in the way.

For Positional Traders, The Bank Nifty Futures’ Trend Change Level is At 41012 . 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 41573, Which Acts As An Intraday Trend Change Level.

Intraday Trading Levels:

Buy above 41620 with targets at 41716, 41888 and 42000 Bank Nifty Spot Levels)

Sell below 41460 with targets at 41343, 41221 and 411111 (Bank Nifty Spot Levels)

Upper End of Expiry : 41823

Lower End of Expiry : 41290

Wishing you good health and trading success as always.As always, prioritize your health and trade with caution.

Category: Bank NIfty Weekly Expiry

About Bramesh

Bramesh Bhandari has been actively trading the Indian Stock Markets since over 15+ Years. His primary strategies are his interpretations and applications of Gann And Astro Methodologies developed over the past decade.

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