Foreign Institutional Investors (FIIs) exhibited a Bullish stance in the Bank Nifty Index Futures market by Buying 6422 contracts with a total value of 463 crores. This activity led to a increase of 3036 contracts in the Net Open Interest.
Bank Nifty has formed an Inside Bar Pattern and formed multiple Inside Bar in last 2 trading session. Tommrow we have Bayers Rule Involving Venus and with Insdie bar today we can see an explosive expiry “Bayer Rule 15: VENUS HELIOCENTRIC LATITUDE AT EXTREME AND LEAST SPEEDS FOR MAJOR MOVES Imp Rule” Intraday trade can follow first 15 mins High and Low to capture trend of the day.
We have seen a volatile day yesterday and today will be another volatile day as we are seeing confluence of Gann and Astro cycle as discussed in below video. For Gann Students Observe price behaviour between 19-Dec to 21 Dec in 2021/2022.
Bank Nifty Trade Plan for Positional Trade ,Bulls will get active above 47900 for a move towards 48050/48211/48346. Bears will get active below 47800 for a move towards 47671/47536/47401.
Traders may watch out for potential intraday reversals at 9:47,11:51,1:02,1:33,2:37 How to Find and Trade Intraday Reversal Times
Bank Nifty Dec Futures Open Interest Volume stood at 18.5 lakh, addition of 0.64 lakh contracts. Additionally, the decrease in Cost of Carry implies that there was a addition of LONG positions today.
Bank Nifty Advance Decline Ratio at 06:06 and Bank Nifty Rollover Cost is @44692 closed above it.
Bank Nifty Gann Monthly Trend Change Level : 45919
Bank Nifty has closed above its 20/50/100/200 DMA, TIll 47610 is held bulls have upper hand and trend is Buy on Dips.
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 45937-47265-48671 . 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 48000 strike, followed by the 48200 strike. On the put side, the 47800 strike has the highest OI, followed by the 473500 strike.This indicates that market participants anticipate Bank Nifty to stay within the 47500-48000 range.
The Bank Nifty options chain shows that the maximum pain point is at 48000 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 .
We as a human programmed not to accept our defeat, that is the core our our evolution we are able to survive because of this mental coding. You might have seen so many people coming back to market after loosing everything in market. So due to this it is very hard for us to accept that we lost in a trade. So we keep on waiting for trade to return in our favour.
For Positional Traders, The Bank Nifty Futures’ Trend Change Level is At 46984 . 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 47870, Which Acts As An Intraday Trend Change Level.
Bank Nifty Expiry Range
Upper End of Expiry : 48348
Lower End of Expiry : 47651
Bank Nifty Intraday Trading Levels
Buy Above 48040 Tgt 48215, 48400 and 48555 ( Bank Nifty Spot Levels)
Sell Below 47830 Tgt 47670, 47480 and 47301 ( 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.