Foreign Institutional Investors (FIIs) displayed a Bearish approach in the Bank Nifty Index Futures market by Shorting 4314 contracts worth 284 crores, resulting in a increase of 1032 contracts in the Net Open Interest.
Bank Nifty is doing Gann Price time squaring as price is at 1×1 gann angle and 99 bar time cycle and astro cycle also confluncing as discussed in below video. Be ready for big move as per levels
Bank Nifty saw the effect of 99 Gann Bars as we have discussed in last analysis, Now today we have an important astro date as discussed in below video, Till Bulls are able to hold 43600 We can see relief rally towards 44226/44435, Any break of 43600 can see fast fall towards 43000/42700..
Bank Nifty Trade Plan Bulls will get active above 44056 for a move towards 44268/44480/44693. Bears will get active below 43843 for a move towards 43631/43418
Traders may watch out for potential intraday reversals at 9:34,11:24,12:12,01:25,2:48 How to Find and Trade Intraday Reversal Times
Bank Nifty June Futures Open Interest Volume stood at 19.8 lakh, additon of 0.76 lakh contracts. Additionally, the increase in Cost of Carry implies that there was a addition of SHORT positions today.
Bank Nifty Advance Decline Ratio at 2:10 and Bank Nifty Rollover Cost is @46143 and Rollover is at 70.3%
Bank Nifty has bounced from 100 SMA @43617, Till 43617 is held bounce towards 44000/44225
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 43344
According to the Bank Nifty options chain, the call side has the highest open interest (OI) at the 44000 strike, followed by the 44300 strike. On the put side, the 43800 strike has the highest OI, followed by the 3500 strike.This indicates that market participants anticipate Bank Nifty to stay within the 43800-44200 range.
The Bank Nifty options chain shows that the maximum pain point is at 44000 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 .
Years of practice at the game, of constant study, of always remembering, enable the trader to act on the instant when the unexpected happens as well as when the expected comes to pass.
For Positional Traders, The Bank Nifty Futures’ Trend Change Level is At 45052 . 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 44008 , Which Acts As An Intraday Trend Change Level.
Intraday Trading Levels
Buy Above 44008 Tgt 44099, 44225 and 44444 (Bank Nifty Spot Levels)
Sell Below 43888 Tgt 43777, 43666 and 43555 (Bank Nifty Spot Levels)
Upper End of Expiry : 44225
Lower End of Expiry : 43666
Wishing you good health and trading success as always.As always, prioritize your health and trade with caution.
As always, it’s essential to closely monitor market movements and make informed decisions based on a well-thought-out trading plan and risk management strategy. Market conditions can change rapidly, and it’s crucial to be adaptable and cautious in your approach.