Foreign Institutional Investors (FIIs) displayed a Bearish approach in the Bank Nifty Index Futures market by Shorting 1001 contracts worth 69 crores, resulting in a decrease of 3261 contracts in the Net Open Interest.
Bank Nifty continue to form lower lows on daily time frame and price closed below 4×3 gann angle. Tommrow we have 2 Aspect with North Node (Mercury Square North Node Mars Trine North Node) suggesting we can start seeing volatile mode, As NOrth Node/Rahu tend to create volatlity in the market.
44500 is 50% of last move from 43345/45655 so should be watched closely.
Bank Nifty Trade Plan Based Bulls will get active above 45000 for a move towards 45184/45415/45646. Bears will get active below 44729 for a move towards 44490/44259/44028.
Traders may watch out for potential intraday reversals at 9:15,11:16,12:50,1:49,2:19 How to Find and Trade Intraday Reversal Times
Bank Nifty June Futures Open Interest Volume stood at 26.8 lakh, liquidation of 0.76 lakh contracts. Additionally, the increase in Cost of Carry implies that there was a closing of LONG positions today.
Bank Nifty Advance Decline Ratio at 5:7 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 45000 strike, followed by the 45200 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 44800-45300 range.
The Bank Nifty options chain shows that the maximum pain point is at 44900 and the put-call ratio (PCR) is at 0.98. 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 .
With every trade I imagine that this will be my worst trade ever. And I think about it beforehand, how much of my money I want to lose with it
For Positional Traders, The Bank Nifty Futures’ Trend Change Level is At 44067 . 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 44997 , Which Acts As An Intraday Trend Change Level.