06 Oct 2023 RBI Policy Impact Bank Nifty

By | October 6, 2023 9:47 am

Foreign Institutional Investors (FIIs) exhibited a Bearish stance in the Bank Nifty Index Futures market by Shorting 4444 contracts with a total value of 296 crores. This activity led to a increase of 8826 contracts in the Net Open Interest.

As Discussed in Last Analysis

Mars Opposition North Node genreally create short term top and bottom as discussed in below video,”RULE NO. 38 MERCURY LATITUDE HELIOCENTRIC Some mighty fine tops and bottoms are produced when Mercury in this motion passes the above mentioned degrees” Bank  Nifty has closed below 3x 4 angle  should be heading towards 1×2 angle till we do not close above 44580-44600 ange.  We have Mercury Ingress tommrow so first 15 mins High and Low will guide for the day for intraday traders.

RBI Policy today, Last Policy with increase of ICRR lead to big fall in intraday in Bank Nifty, Till BUlls are holding 44100-44125 rally can extend towards 44555-44591 , Bears will get active below 44100  can lead to swift fall towards 43800/44521. Try to trade after 11:08 to capture the trend.


Traders may watch out for potential intraday reversals at 9:33,11:08,1:05,2:27 How to Find and Trade Intraday Reversal Times

Bank Nifty Oct Futures Open Interest Volume stood at 25.4 lakh, liquidation of 1.19 lakh contracts. Additionally, the increase in Cost of Carry implies that there was a closeure of SHORT positions today.

Bank Nifty Advance Decline Ratio at 09:03 and Bank  Nifty Rollover Cost is @44871 closed above it. 

Bank Nifty closed below 20/50/100 SMA and heading towads 43200 till we close below 45000


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 below 44634. 

According to the Bank Nifty options chain, the call side has the highest open interest (OI) at the 44300 strike, followed by the 44500 strike. On the put side, the 44000 strike has the highest OI, followed by the 43800 strike.This indicates that market participants anticipate Bank Nifty to stay within the 43800-44300 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 44200 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 .

Your risk-adjusted return is more important than your gross P&L. You shouldn’t try to make 5K a day by losing 5K. You shouldn’t do this after 10 years and you certainly shouldn’t do this when you start.

For Positional Traders, The Bank Nifty Futures’ Trend Change Level is At 44559. 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 44434 , Which Acts As An Intraday Trend Change Level.

BANK Nifty Intraday Trading Levels

Buy Above 44250 Tgt 44385, 44500  and 44666( Nifty Spot Levels)

Sell Below 44200  Tgt 44125, 44000 and 43864 (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: Bank Nifty Time Cycle

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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