Foreign Institutional Investors (FIIs) displayed a Bearish approach in the Bank Nifty Index Futures market by Selling 4903 contracts worth 525 crores, resulting in a increase of 4225 contracts in the Net Open Interest.
As Discussed in Last Analysis
Bank Nifty has shown Island Reversal Pattern today Tommrow we have important astro dates as discussed in below video
Bayer Rule 30: The trend changes when Venus in declination passes the extreme declination of the Sun.
Mars YOD Saturn and Jupiter Conjunct North Node Aspect
First 15 Mins High and Low will guide for the day.
We saw a decent fall in BANk Nifty today price reacted from SELL levels as shown in below chart and also reacted from Gann time cycle.
Today we have “RULE NO. 38 MERCURY LATITUDE HELIOCENTRIC Some mighty fine tops and bottoms are produced when Mercury in this motion passes the above mentioned degrees”, New Moon on Saturday and SATRUN Retrograde on SUnday so carry overnight position with Hedge
Trade Plan based on Astro Date, For Swing Traders Bulls need to move above 44506 for a move towards 44651/44797/44942 . Bears will get active below 44170 for a move towards 44025/43897/43734.. Below 43765 fall can extend towards 43655/43512/43350
Traders may watch out for potential intraday reversals at 9:15,10:02,11:15,12:45,1:47,2:58 How to Find and Trade Intraday Reversal Times
Bank Nifty June Futures Open Interest Volume stood at 21.7 lakh, addition of 0.71 lakh contracts. Additionally, the decrease in Cost of Carry implies that there was a addition of SHORT positions today.
Bank Nifty Advance Decline Ratio at 6:6 and Bank Nifty Rollover Cost is @43908 and Rollover is at 72.2%
Major Support for Bank Nifty us at 43751 which is 20 SMA
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 — 44464 done
According to the Bank Nifty options chain, the call side has the highest open interest (OI) at the 44000 strike, followed by the 44500 strike. On the put side, the 43500 strike has the highest OI, followed by the 44000 strike. This indicates that market participants anticipate Bank Nifty to stay within the 44000-44500 range.
The Bank Nifty options chain shows that the maximum pain point is at 44000 and the put-call ratio (PCR) is at 0.8. 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 .
Don’t overtrade. It’s tempting to trade frequently, but this can lead to losses. It’s better to trade less and focus on making high-quality trades.
For Positional Traders, The Bank Nifty Futures’ Trend Change Level is At 44106. 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 44100 , Which Acts As An Intraday Trend Change Level.
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