Foreign Institutional Investors (FIIs) exhibited a Bullish stance in the Bank Nifty Index Futures market by Buying 4084 contracts with a total value of 269 crores. This activity led to a decrease of 1394 contracts in the Net Open Interest.
We have seen Impact of Gann 144 Days and Astro Cycle with Mars/Mercury/Venus/North node. 43826-43800 range is importnat demand zone If 43826 and sustained below it for 15 mins 43200-43000 quiet possible as Mercury Opposition North Node Aspect is forming again voaltile day is coming.
- Moon Extreme Decliantion
- Sun Conjunct Mercury
- “Bayer Rule 2: Trend goes down within 3 days when the speed difference between Mars and Mercury is 59 minutes. Leads to Big Move “
- Mercury Opposition North Node
- Solar Eclipse Gann Date
Bank Nifty has broken its last Swing Low of 43796 and close below it also , Price is still trading below the 144 days Low, Watch out for PSU Banks today as they can take a beating if Bank Nifty start trading below 43600. Intraday Traders can watch out for first 15 mins High and Low to capture the trend of the day using Ratio Indicator
Bank Nifty Trade Plan for Positional Trade ,Bulls will get active above 43847 for a move towards 44058/44270. Bears will get active below 43636 for a move towards 43424/43213
Traders may watch out for potential intraday reversals at 9:28,10:37,11:36,1:26,2:03 How to Find and Trade Intraday Reversal Times
Bank Nifty Oct Futures Open Interest Volume stood at 24.1 lakh, liquidation of 2.5 lakh contracts. Additionally, the decarease in Cost of Carry implies that there was a covering of SHORT positions today.
Bank Nifty Advance Decline Ratio at 04:08 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 and saw a big fall.
According to the Bank Nifty options chain, the call side has the highest open interest (OI) at the 43800 strike, followed by the 44000 strike. On the put side, the 43500 strike has the highest OI, followed by the 43000 strike.This indicates that market participants anticipate Bank Nifty to stay within the 43000-44000 range. Total Call OI is 1.44 cr and Total Put OI is 1.65 cr
The Bank Nifty options chain shows that the maximum pain point is at 43600 and the put-call ratio (PCR) is at 0.80 . 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 .
By implementing contingency planning, you can take swift, decisive action the instant one of your positions changes its behavior or is hit with an unexpected event.
For Positional Traders, The Bank Nifty Futures’ Trend Change Level is At 44438. 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 43881, Which Acts As An Intraday Trend Change Level.
BANK Nifty Intraday Trading Levels
Buy Above 43729 Tgt 43824, 43920 and 44044 ( Bank Nifty Spot Levels)
Sell Below 43666 Tgt 43555, 43444 and 43333 (BANK 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.