Foreign Institutional Investors (FIIs) displayed a Bullish approach in the Bank Nifty Index Futures market by Buying 1150 contracts worth 78 crores, resulting in a increase of 4102 contracts in the Net Open Interest.
Bank Nifty after breaking 45500 is on a breakout mode, and trading in Gaps. Yesterday was the 4 gap up, genereaaly its observed 5 gap gets filled in Bull Market. Traders who want to go Short look for this pattern
Today we have “Bayer Rule 15: VENUS HELIOCENTRIC LATITUDE AT EXTREME AND LEAST SPEEDS FOR MAJOR MOVES Imp Rule” “RULE NO. 40 VENUS HELIOCENTRIC LATITUDE DIVIDED INTO PARTS 0*0’ 2*30’ 0*13’ 3*00’ 1*50’ 3*17’ 2*17’ 3*23’” coming into effect, If you are intraday trader watch for first 15 mins high and low to capture the trend.
If you are Swing Trader Yesterday High and Low due to Lunar Cycle in very important and we have discussed the trade plan as shown below.
Bank NIfty move like this are one of its kind which we see once in 2-3 years. Nifty has rallied 38613-45655 till today which is 7042 points and its not an India Specific rally, Markets through out the world are rallying. Rise like these will get nullified by one big red candel which will take atleast 2-3 days of move. So LOng keep tsl below last day low .
For trend to reverse either we will get a Big Gap down or we will form an Outside bar with price closing below previous day low, TIll this conditions are not met trend continues on long side.
Also IF DIP comes in MOrning hours it will get bought into, Fall will come after 2 PM like today.
Tommrow we have Moon at Perigee and Bank Nifty has formed a DOJI Pattern first condition of pattern we have discussed here.
Bank Nifty Trade Plan Based Bulls will get active above 45375 for a move towards 45611/45846/46082. Bears will get active below 44859 for a move towards 44624/44388/44153 — Waiting for 45846/46082
Traders may watch out for potential intraday reversals at 9:19,10:03,2:08,2:39 How to Find and Trade Intraday Reversal Times
Bank Nifty June Futures Open Interest Volume stood at 27.5 lakh, addition of 0.91 lakh contracts. Additionally, the increase in Cost of Carry implies that there was a covering of LONG positions today.
Bank Nifty Advance Decline Ratio at 8:4 and Bank Nifty Rollover Cost is @44037 and Rollover is at 72.6%
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 43444-44634-45923 . 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 near 44634
According to the Bank Nifty options chain, the call side has the highest open interest (OI) at the 45500 strike, followed by the 45800 strike. On the put side, the 44800 strike has the highest OI, followed by the 44500 strike. This indicates that market participants anticipate Bank Nifty to stay within the 45000-45500 range.
The Bank Nifty options chain shows that the maximum pain point is at 45200 and the put-call ratio (PCR) is at 0.91 . 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 .
Fundamental of Trading : 1. Proper preparation 2. Hard work 3. Patience 4. A detailed plan before every trade 5. Discipline 6. Trade Journal 7. Replaying important trades
For Positional Traders, The Bank Nifty Futures’ Trend Change Level is At 44962 . 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 45396 , Which Acts As An Intraday Trend Change Level.