Bank Nifty 11 Oct Weekly Expiry Analysis

By | October 11, 2023 3:02 am

Foreign Institutional Investors (FIIs) exhibited a Bearish stance in the Bank Nifty Index Futures market by Shorting 2624 contracts with a total value of 175 crores. This activity led to a decrease of 6956 contracts in the Net Open Interest.

As Discussed in Last Analysis

Bank Nifty saw a sharp decline due to ISRAEL-PALESTINE WAR which lead to sharp increase in Crude price and we also saw the impact of Venus Ingress as discussed in below video. Today as Moon goes in Apogee(The Moon will reach the furthest point along its orbit to the Earth and will appear slightly smaller than at other times.) it can lead to more voaltile move in Bank Nifty. Also 2 Bayers Rule are coming in Effect today so first 15 mins High and Low will guide INtraday traders.

Bayer Rule 5:Mercury Retrograde Zodical Position of One Year “

First 15 MIns High and Low range got broken on upside and we saw a big move in Bank Nifty. Tommrow again we are completing 1296 days from Covid Low made on 24-03-2020 so expect another volatile move. Pluto is also turning direct, everyday we are having multiple astro events and thats why we are seeing such volatile move, Tommrow also fist 15 mins High and Low will guide intraday traders.

Bank Nifty Trade Plan for Positional Trade ,Bulls will get active above 44424 for a move towards 44633/44843. Bears will get active below 44215 for a move towards 44006/43796.

Traders may watch out for potential intraday reversals at 9:30,10:04,11:58,1:07,2:06,2:40 How to Find and Trade Intraday Reversal Times

Bank Nifty Oct Futures Open Interest Volume stood at 22.9 lakh, liquidation of 2.72 lakh contracts. Additionally, the increase in Cost of Carry implies that there was a coverin of SHORT positions today.

Bank Nifty Advance Decline Ratio at 11:01 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 44600 


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 44300 -44600 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 43800 and the put-call ratio (PCR) is at 0.82 . 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 44481. 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 44045 , Which Acts As An Intraday Trend Change Level.

BANK  Nifty Expiry Range

Upper End of Expiry : 44621

Lower End of Expiry : 44098 

BANK Nifty Intraday Trading Levels

Buy Above 44400  Tgt 44555, 44666  and 44777 ( Nifty Spot Levels)

Sell Below 44322 Tgt 44222, 44108 and 43900 (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.

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