Winter Solstice : Bank Nifty 21 Dec 2023 Trade Plan

By | December 21, 2023 8:12 am

Foreign Institutional Investors (FIIs) exhibited a Bullish stance in the Bank Nifty Index Futures market by Buying 14169 contracts with a total value of 1018 crores. This activity led to a increase of 10587 contracts in the Net Open Interest.

As Discussed in Last Analysis

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 experienced a notable pullback, influenced by the convergence of both Gann and astro cycles, as discussed in the last video. Today marks the Winter Solstice, another significant Gann Natural date, potentially leading to heightened volatility. With Mars forming a YOD with Uranus and Venus opposing Uranus, the first 15 minutes’ high and low will serve as crucial guides for the day. It’s fascinating to witness the potent market reversals when Gann and Astro cycles align. Incorporating time cycle studies provides an additional edge, showcasing the intricate interplay between technical analysis and astrological influences. Traders are advised to exercise caution in navigating the potential fluctuations on this dynamic day.



Bank Nifty Trade Plan for Positional Trade ,Bulls will get active above 47507 for a move towards 47727/47946/48166. Bears will get active below 47288 for a move towards 47068/46849/46626.

Traders may watch out for potential intraday reversals at 9:46,11:12,12:53,1:39,2:39  How to Find and Trade Intraday Reversal Times

Bank Nifty Dec Futures Open Interest Volume stood at 17.6  lakh, liquidation of 0.83 lakh contracts. Additionally, the decrease in Cost of Carry implies that there was a covering of LONG positions today.

Bank Nifty Advance Decline Ratio at 00:12 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. — Bears broke 47610 till its not captured it become sell on rise market.




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 47500  strike, followed by the 47800 strike. On the put side, the 47000 strike has the highest OI, followed by the 46800 strike.This indicates that market participants anticipate Bank Nifty to stay within the 47500-47000 range. 

The Bank Nifty options chain shows that the maximum pain point is at 47500  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 .

Traders always aim for holy grail in trading. They think that will be the answer for all their hardships they are facing because of trading financial markets.

For Positional Traders, The Bank Nifty Futures’ Trend Change Level is At 47015 . 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 47445, Which Acts As An Intraday Trend Change Level.

Bank Nifty Intraday Trading Levels

Buy Above 47528 Tgt 47637, 47745  and 47854 ( Bank Nifty Spot Levels)

Sell Below 47311 Tgt 47202, 47100 and 46900 ( 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.

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