Bank Nifty 18 May Weekly Expiry Analysis

By | May 18, 2023 8:46 am

Foreign Institutional Investors (FIIs) displayed a Bullish approach in the Bank Nifty Index Futures market by Buying 1977 contracts worth 211 crores, resulting in a increase of 5147 contracts in the Net Open Interest.

As discussed in Last Analysis 

Bank Nifty saw an Impact of Jupiter Ingress and still having Double Top formation at 44151, Double Ingress has important astro event as discussed in below video.

Bank Nifty saw the impact of JUpiter ingress and we saw a decent decline. ANy close below 43500 can lead to sharp fall today. Bank Nifty did 2 target on downside before sharp rally in last 1 hour.




For Swing Traders  Bulls need to move above 44166 for a move towards 44300/44481/44639. Bears will get active below 43793 for a move towards 43658/43477/43319.

Traders may watch out for potential intraday reversals at 9:15,10:21,11:22,1:42,2:47 How to Find and Trade Intraday Reversal Times

Bank Nifty May Futures Open Interest Volume stood at 20.8 lakh, liquidation of 1.69 lakh contracts. Additionally, the decrease in Cost of Carry implies that there was a closure of LONG positions today.

Bank Nifty Advance Decline Ratio at 2:10 and Bank  Nifty Rollover Cost is @42773 and Rollover is at 75.8%

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. Price is has broken 43216 Heading towards 44464

According to the Bank Nifty options chain, the call side has the highest open interest (OI) at the 44000 strike, followed by the 44200 strike. On the put side, the 43500 strike has the highest OI, followed by the 43000 strike. This indicates that market participants anticipate Bank Nifty to stay within the 43000-44000 range.

The Bank Nifty options chain shows that the maximum pain point is at 43600 and the put-call ratio (PCR) is at 1.1. 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 .

When in trade mind will always get distracted with news/views but as a Traders we need to remain in now moment to be profitable.

For Positional Traders, The Bank Nifty Futures’ Trend Change Level is At 43333. 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 43697 , Which Acts As An Intraday Trend Change Level.

Intraday Trading Levels

Buy Above 43729 Tgt 43848, 43978 and 44108 (Nifty Spot Levels)

Sell Below 43600 Tgt 43485, 43312 and 43166 (Nifty Spot Levels)

Upper End of  Expiry : 44100

Lower End of Expiry : 43499

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

Leave a Reply