Bank Nifty 28 Sep 2023 Monthly Expiry Analysis

By | September 28, 2023 9:34 am

Foreign Institutional Investors (FIIs) exhibited a Bearish stance in the Bank Nifty Index Futures market by Shorting 5633 contracts with a total value of 381 crores. This activity led to a increase of 9435 contracts in the Net Open Interest.

As Discussed in Last Analysis

Bank Nifty showed a perfect bounce from the gann angle , Bulls need a close above 45000 for the correction to get over else Bears can break 100 DMA which has been holding from almsot 5 time. More we touch a support more weaker it becomes. Mercury Trine Jupiter Aspect today suggesting break of todays high and low can lead to trending move.

Bank Nifty has completed its journey from 1 gann angle to another as shown in below chart, Thats the Beauty of Gann Angles , it helps in capturing the full move. Now Bank Nifty has closed below 11x line any 2 days close  below 1×1 gann angle can lead to fall towards 43000.  Today we have Moon at Perigee and Tommrow Moon Declination as Both Lunar Cycle are coming together we can see explosive move as discussed in below video, Intraday traders watch for first 15 mins High and Low to catch the trend for the day.




Bank Nifty Trade Plan for Positional Trade ,Bulls will get active above 44853 for a move towards 145062/45270 . Bears will get active below 44435 for a move towards 44226/44018/43809

Traders may watch out for potential intraday reversals at 9:25,11:58,12:50,2:26 How to Find and Trade Intraday Reversal Times

Bank Nifty Sep Futures Open Interest Volume stood at 14.9 lakh, addition of 0.62 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 09:03 and Bank  Nifty Rollover Cost is @44639 closed above it. 

Bank Nifty is back towards its 100 DMA @44512 close below it can lead to fall towards 44225/44000.

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 has closed above 44634. 

According to the Bank Nifty options chain, the call side has the highest open interest (OI) at the 44800 strike, followed by the 45000 strike. On the put side, the 44300 strike has the highest OI, followed by the 44000 strike.This indicates that market participants anticipate Bank Nifty to stay within the 44300-44800 range. Total Call OI is 1.34 cr and Total Put OI is 1.45 cr

The Bank Nifty options chain shows that the maximum pain point is at 44600  and the put-call ratio (PCR) is at 0.89. 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 .

To create money management, position size calculation or the elaboration of a profitable set of rules. All of these very useful tools are of little help if you are not able to use them in a disciplined manner.

For Positional Traders, The Bank Nifty Futures’ Trend Change Level is At 45163 . 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 44465, Which Acts As An Intraday Trend Change Level.


Bank Nifty Expiry Range

Upper End of Expiry : 44858

Lower End of Expiry : 44317

Bank Nifty Intraday Trading Levels

Buy Above 44600 Tgt 44743, 44848 and 44965 ( Nifty Spot Levels)

Sell Below 44500 Tgt 44000, 44291 and 44108 (Nifty Spot Levels)

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.

Category: Daily

About Bramesh

Bramesh Bhandari has been actively trading the Indian Stock Markets since over 15+ Years. His primary strategies are his interpretations and applications of Gann And Astro Methodologies developed over the past decade.

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