Gann Date : Bank Nifty Analysis for 14 June

By | June 13, 2023 11:20 pm

Foreign Institutional Investors (FIIs) displayed a Bullish approach in the Bank Nifty Index Futures market by Buying 2417 contracts worth 243 crores, resulting in a increase of 163 contracts in the Net Open Interest.

As Discussed in Last Analysis

Bank NIfty has been in range of last 22 Days, Price continue with its contraction on astro date which is perfect set up on Astro Date. India’s retail inflation drops to 25-month low in May on softer food price; industrial output rises sharply. Remmber Market are always forward looking and current data has already been anticipated and we have seen a decent rally. Tommrow we have US inflation data carry overnight position with Hedge.  On Importnat observation today was Monthly Put Premium not decaying in upmove seen today.

Bank Nifty has important gann date tommrow as discussed in below video . VOlatlity has dried and hopefully fed meeting tommrow night can add some volatily to the market. Till Nifty is above 42900 Double Ingress Low Bulls have upperhand.



Trade Plan as per Inside Bar  Bulls will get active above 44125 for a move towards 443250/44375/44501/44626 Bears will get active below 43870 for a move towards 43748/43623/43497/43372


Traders may watch out for potential intraday reversals at 9:24,11:16,1:06,1:53,2:50 How to Find and Trade Intraday Reversal Times

Bank Nifty June  Futures Open Interest Volume stood at 24.7 lakh, addition of 0.20 lakh contracts. Additionally, the decrease in Cost of Carry implies that there was a covering of SHORT positions today.

Bank Nifty Advance Decline Ratio at 9:3 and Bank  Nifty Rollover Cost is @43908 and Rollover is at 72.2%

Major Support for Bank Nifty us at 43989 which is 20 SMA,Finally we closed below 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 43800-44300 range.

The Bank Nifty options chain shows that the maximum pain point is at 44000 and the put-call ratio (PCR) is at 0.96 . 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 44180 . 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 44192, Which Acts As An Intraday Trend Change Level.

Intraday Trading Levels

Buy Above 44080 Tgt 44188, 44323 and 44444 (Nifty Spot Levels)

Sell Below 43933 Tgt 43787, 43685 and 43512  (Nifty Spot Levels)

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

Category: Daily

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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