Foreign Institutional Investors (FIIs) exhibited a Bullish stance in the Bank Nifty Index Futures market by Buying 374 contracts with a total value of 24 crores. This activity led to a decrease of 3204 contracts in the Net Open Interest.
Bank Nifty broke the first 15 minutes low, experiencing a noticeable decline in response to the convergence of Gann and astro cycles, as discussed in the video below. Over the next two days, breaking today’s high and low is essential for signaling a potential trending move. The price has finally broken the Gann angle, as illustrated in the chart below, Unable to close above 1×2 gann angle at 43790 can lead to decline towards 42684/42394.
Bank Nifty formed a Inside Bar and NR7 today , Effect of Mars and Bayers Rule is discussed in below video. Today we have Mars on the Move as its changing Sign, Bayer Rule 9: Big changes on market are when Mercury passes over 19 degrees 36 minutes of Scorpio and Sagittarius,also over 24 degrees 14 minutes of Capricorn. and Sun Square Saturn which is important for Indices, Multiple astro Aspect involving Mars which is a Energy Plannet can lead to powerful move. Monday is a trading Holiday so carry overnight positons with Hedge.
Bank Nifty Trade Plan for Positional Trade ,Bulls will get active above 43577 for a move towards 43788/43999. Bears will get active below 43367 for a move towards 43156/42945/42734
Traders may watch out for potential intraday reversals at 09:32,10:05, 12:14,2:09 How to Find and Trade Intraday Reversal Times
Bank Nifty Nov Futures Open Interest Volume stood at 19.8 lakh, liquidation of 1.04 lakh contracts. Additionally, the incarease in Cost of Carry implies that there was a liquidation of SHORT positions today.
Bank Nifty Advance Decline Ratio at 05:06 and Bank Nifty Rollover Cost is @43450 closed above it.
Bank Nifty Gann Monthly Trend Change Level : 43211
Bank Nifty is near its 20 DMA @43395 , and closed below its 100/50 DMA suggesting sell on rise trend
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.
According to the Bank Nifty options chain, the call side has the highest open interest (OI) at the 43600 strike, followed by the 44000 strike. On the put side, the 43500 strike has the highest OI, followed by the 43200 strike.This indicates that market participants anticipate Bank Nifty to stay within the 43300-44000 range.
The Bank Nifty options chain shows that the maximum pain point is at 43600 and the put-call ratio (PCR) is at 0.85 . 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 .
As traders, we should spend each day stepping outside of our comfort zone so we improve.
For Positional Traders, The Bank Nifty Futures’ Trend Change Level is At 43608 . 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 43667 , Which Acts As An Intraday Trend Change Level.
BANK Nifty Intraday Trading Levels
Buy Above 43610 Tgt 43729, 43850 , and 43970 ( BANK Nifty Spot Levels)
Sell Below 43550 Tgt 43444, 433333 and 43212 ( 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.