Bank Nifty April Monthly Expiry Analysis

By | April 27, 2023 8:55 am

As Discussed In Last Analysis Jupiter Contra Antis Saturn, This aspect is a rare occurrence and can have significant effects on the stock market. and “Bayer Rule 2: Trend goes down within 3 days when the speed difference between Mars and Mercury is 59 minutes. Leads to Big Move ” are two important Astro Events happening tommrow. Bank Nifty has closed above 42679 which is 6 month Pivot we have closed above it Longs should keep SL of 42679, Today we have monthly expiry and premium of CE and PE are very low, expect good volatlity in market today as we have “Bayer Rule 33: Moves are when Mars in Geocentric longitude passes over 16 degrees 55 minutes 46 seconds. ” which has Mars plannet in it, Mars bring volatlity in the market so hopefully we will see a good volatilie move today. 

Bank Nifty has formed an Outside Bar pattern today, For Swing Traders Break of 42873 can see a rise towards 42970,43100,43214. Bears will get active below 42593 for a move towards 42496,42366,42252


Traders may watch out for potential intraday reversals at 9:20,10:03,11:51,1:32,2:26 How to Find and Trade Intraday Reversal Times

Bank Nifty May Futures Open Interest Volume stood at 15.1 lakh, addition of 4 lakh contracts. Additionally, the increase in Cost of Carry implies that there was a addition of Long positions today.

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 40789-41967-43216 . 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.

According to the Bank Nifty options chain, the call side has the highest open interest (OI) at the 42800 strike, followed by the 43000 strike. On the put side, the 42500 strike has the highest OI, followed by the 42000 strike. This indicates that market participants anticipate Bank Nifty to stay within the 43000-42500 range.

The Bank Nifty options chain shows that the maximum pain point is at 42700 and the put-call ratio (PCR) is at 0.94 . 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 .

The successful speculator bases NO moves on what supposedly will happen, but reacts instead to what does happen.

For Positional Traders, The Bank Nifty Futures’ Trend Change Level is At 41711 . 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 42653 , Which Acts As An Intraday Trend Change Level.

Intraday Trading Levels

Buy Above 42888 Tgt 42992, 43155 and 43400 (Nifty Spot Levels)

Sell Below 42743 Tgt 42650, 42555 and 42350 (Nifty Spot Levels)

Upper End of Expiry : 43090

Lower End of Expiry : 42567

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

Category: Bank Nifty Monthly 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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