Bank Nifty 26 Oct 2023 Monthly Expiry Analysis

By | October 26, 2023 7:56 am

Foreign Institutional Investors (FIIs) exhibited a Bullish stance in the Bank Nifty Index Futures market by Shorting 18888 contracts with a total value of 129crores. This activity led to a decrease of 6792 contracts in the Net Open Interest.

As Discussed in Last Analysis

When Astro and Gann Date confluence its leads to big move , Same Happened on Monday, Bank Nifty broke the 144 Days low of  and on Weekend we had Mercury and Sun Chaging Sing which lead to Double Ingress and we broke the last swing low of 44002 and 200 DMA also and closed below it. With Banks decalring such a good resulots still we are seeing Fall in Bank Nifty suggests market is sensing something diffrent which is not avilable in public domanin currently . Next  2 trading session are important as we have Monthly expiry coming up and “Bayer Rule 15: VENUS HELIOCENTRIC LATITUDE AT EXTREME AND LEAST SPEEDS FOR MAJOR MOVES Imp Rule”. To Capture trend of the day watch out for first 15 mins High and Low.

Bank Nifty  has closed below its 200 DMA for 2 days in a rown and closed below its 1×2 gann angle as shown below last 45 mins of trading will be very intresting as Last Monthly expiry happened at 443000 and we are trading around 42700 with todays gap down. Bears will put more pressure to bring the market down once we staret trading below 42500 on 15 mins closing basis. Today we have multiple Lunar dates coming togehter Moon at Perigee and Lunar Declination so again watch out for first 15 mins high and low to capture trend, till we do not close above 43200 Bears will have uppar hand and 42500 50% of entier move is strong support zone.

Bank Nifty Trade Plan for Positional Trade ,Bulls will get active above 43000 for a move towards 43189/43397. Bears will get active below 42722 for a move towards 42564/42355

Traders may watch out for potential intraday reversals at 09:27,10:36,12:33,1,2:47  How to Find and Trade Intraday Reversal Times

Bank Nifty Nov Futures Open Interest Volume stood at 13.9 lakh, addition of 3.2  lakh contracts. Additionally, the decarease in Cost of Carry implies that there was a covering of LONG positions today.

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

Bank Nifty closed below 20/50/100/200 SMA and heading towads 42200 till we close below 43200

 

 

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 42127-43444-44634-45923 . 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 43444 and saw a big fall.

According to the Bank Nifty options chain, the call side has the highest open interest (OI) at the 43000 strike, followed by the 43200 strike. On the put side, the 42500 strike has the highest OI, followed by the 42300 strike.This indicates that market participants anticipate Bank Nifty to stay within the 42300 -43000 range. Total Call OI is 4.44 cr and Total Put OI is 6.65 cr

The Bank Nifty options chain shows that the maximum pain point is at 42700 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 44271 . 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 43070 , Which Acts As An Intraday Trend Change Level.

 

BANK Nifty Intraday Trading Levels

Buy Above 42850 Tgt 42980, 43108 and 43225 ( Bank Nifty Spot Levels)

Sell Below 42729 Tgt 42610, 42500 and 42323 (BANK Nifty Spot Levels)

Upper End of Expiry : 42952

Lower End of Expiry : 42447

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 Monthly Expiry

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.

Leave a Reply