Bank Nifty 20 July Weekly Expiry Analysis

By | July 20, 2023 9:06 am

Foreign Institutional Investors (FIIs) displayed a Bullish approach in the Bank Nifty Index Futures market by Buying 3688 contracts worth 252 crores, resulting in a increase of 5982 contracts in the Net Open Interest.


As Discussed in Last Analysis Yesterday, the Bank Nifty experienced significant volatility, which can be attributed to the impact of the North Node. The price faced difficulty in closing above4 North Node Ingress High of 45556, The volatile movement may continue today as well. Today, we have two important short-term astrological events: Venus Square Mercury HELIO and Pluto, along with Earth being at its minimum distance. These events involving Mercury, Venus, and the outer planet Pluto indicate the potential for volatile moves in the Bank Nifty. As long as the price remains below 45556, the bears may have a slight advantage.

Bank Nifty formed an Inside bar pattern on astro date its a lethal combo for a good move. Price has closed above 45556 Rahu Ingress High so its advantage Bull till we are above 45556.


Bank Nifty Trade Plan Based  Bulls will get active above 45707 for a move towards 45844/45981/46119. Bears will get active below 45433  for a move towards 45295/45158/45021

Traders may watch out for potential intraday reversals at 9:19,10:41,1:04,1:49,2:44  How to Find and Trade Intraday Reversal Times

Bank Nifty June  Futures Open Interest Volume stood at 20.7 lakh, liquidation of 3.5 lakh contracts. Additionally, the decrease in Cost of Carry implies that there was a liquidation of LONG positions today.

Bank Nifty Advance Decline Ratio at 6:6 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 45923

According to the Bank Nifty options chain, the call side has the highest open interest (OI) at the 45700 strike, followed by the 46000 strike. On the put side, the 45300 strike has the highest OI, followed by the 45000 strike. This indicates that market participants anticipate Bank Nifty to stay within the 45500-46000 range.

The Bank Nifty options chain shows that the maximum pain point is at 45600 and the put-call ratio (PCR) is at 0.97. 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 .

There are two parts to proper preparation for us: 1) the preparation necessary before the Bell rings, and 2) the specific trading information you must obtain before you can make a trade.

For Positional Traders, The Bank Nifty Futures’ Trend Change Level is At 45109. 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 45635 , Which Acts As An Intraday Trend Change Level.

Intraday Trading Levels

Buy Above 45729 Tgt 45865 45985 and 46108 (Nifty Spot Levels)

Sell Below 45555 Tgt 45444, 45323  and 45212 (Nifty Spot Levels)

Upper End of Expiry : 45865

Lower End of Expiry : 45472

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

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