Venus Ingress Impact on Bank NIfty,EOD Analysis

By | June 4, 2023 11:35 am

Foreign Institutional Investors (FIIs) displayed a Bullish  approach in the Bank Nifty Index Futures market by buying  2493 contracts worth 242 crores, resulting in a decrease of 1597 contracts in the Net Open Interest.

As Discussed in Last Analysis

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

Bank Nifty made an inside bar with multiple astro event happening on Weekend as disccused above, Also Venus is having ingress on Monday , Venus has a good impact on market and we will open gap up will be sustain gap is question. 44180 is level to watch on upside unable to cross Bears can break 20 SMA as it has been holding the same from last 3 days.


Trade Plan as per Inside Bar Formed  Bulls will get active above 44227 for a move towards 44385/44503/44641. Bears will get active below 43674 for a move towards 43536/43398/43259.


Traders may watch out for potential intraday reversals at 9:15,9:53,10:58,12:09,1:37  How to Find and Trade Intraday Reversal Times

Bank Nifty June  Futures Open Interest Volume stood at 22.2 lakh, addition of 0.47 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 10:2 and Bank  Nifty Rollover Cost is @43908 and Rollover is at 72.2%

Major Support for Bank Nifty us at 43815 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 0.95. 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 44107. 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 44115, Which Acts As An Intraday Trend Change Level.

Intraday Trading Levels

Buy Above 44080 Tgt 44222, 44365 and 44555 (Nifty Spot Levels)

Sell Below 43900 Tgt 43804, 43666 and 43527 (Nifty Spot Levels)

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

Category: Bank Nifty

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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