Foreign Institutional Investors (FIIs) displayed a Bullish approach in the Bank Nifty Index Futures market by Buying 964 contracts worth 90 crores, resulting in a decrease of 98 contracts in the Net Open Interest.
As Discussed in Last Analysis
Gann Price Time Squaring showed its Impact with bank nifty cracking almost 600 points and closing at the lowest point of the day, Till Bulls are not able to close above 44151 All Rallies will get sold into and ultimate target for this downmove can be near 41920-42042 which can come in June Expiry
Bank Nifty saw a rally but failed to close above its 20 SMA and 4×3 Gann Angle and 44151 level. We have important astro events happening on Weekend
- Bayer Rule 27: Big tops and big major bottoms are when Mercury’s speed in Geocentric longitude is 59 minutes or 1 degree 58 minutes.
- NEW MOON
- SATURN RETROGRADE
Monday First 15 mins High and Low will guide for the day.
Fresh Swing Plan Bears will get active below 43376 for a move towards 43105/42835. Bulls above 43647 for a move towards 43917/44151/44444. Waiting for 44151/44444.
Traders may watch out for potential intraday reversals at 9:39,11:15,12:43,1:36,2:48 How to Find and Trade Intraday Reversal Times
Bank Nifty June Futures Open Interest Volume stood at 23.1 lakh, liquidation of 1.69 lakh contracts. Additionally, the increase in Cost of Carry implies that there was a covering of SHORT positions today.
Bank Nifty Advance Decline Ratio at 12:0 and Bank Nifty Rollover Cost is @43908 and Rollover is at 72.2%
Major Resistance for Bank Nifty us at 43987 which is 20 SMA,Finally we closed below 20 SMA heading towards 43252 ..
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 now heading for 43216
According to the Bank Nifty options chain, the call side has the highest open interest (OI) at the 43800 strike, followed by the 445000 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 43000-43500 range.
The Bank Nifty options chain shows that the maximum pain point is at 44000 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 .
If you don’t trust the system while you’re in a trade, you’ll become impatient. Impatience makes you exit too soon – afraid that profits will dissipate – or too late, because you don’t want to take a loss.
For Positional Traders, The Bank Nifty Futures’ Trend Change Level is At 44139 . 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 43919, Which Acts As An Intraday Trend Change Level.