Bank Nifty 28 Dec Monthly expiry Analysis

By | December 27, 2023 11:09 pm

Foreign Institutional Investors (FIIs) exhibited a Bullish stance in the Bank Nifty Index Futures market by Buying 3867 contracts with a total value of 278   crores. This activity led to a increase of 2025 contracts in the Net Open Interest.

As Discussed in Last Analysis

Yesterday was Jupiter Declination and today we have Double Lunar Date expect good degree of volataltiy in the Nifty as both moon and Jupiter has strong impact on Nifty. For Intraday Traders watch for first 15 mins High and Low to capture trend of the day.

Double Lunar Date showed its impact with Bank Nifty hitting all time high again. Price has retraced the whole move on 20 Dec, Tommrow we have last expiry for the year so bulls till holding 48108 can move towards 48400/48666, Any move below 48000 will invite profit booking. Mars Square Neptune aspect tmmrow as Mars is plannet of energy we should see another 300-444 poinmt move in Bank Nifty.

Bank Nifty Trade Plan for Positional Trade ,Bulls will get active above 48282 for a move towards 48500/48718 . Bears will get active below 48000 for a move towards 47786/47569

Traders may watch out for potential intraday reversals at 9:54,11:45,1:20,2:05,2:44  How to Find and Trade Intraday Reversal Times

Bank Nifty Dec Futures Open Interest Volume stood at 11.4 lakh, addition of 3 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 12:00 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. — Bulls were able to capture 47610 in just 1 day suggesting till 47786 is held today BUlls have upper hand.




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 48300 strike, followed by the 48500 strike. On the put side, the 48000 strike has the highest OI, followed by the 47800 strike.This indicates that market participants anticipate Bank Nifty to stay within the 48000-48500 range. 

The Bank Nifty options chain shows that the maximum pain point is at 48300  and the put-call ratio (PCR) is at 1 . 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 47189. 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 48134, Which Acts As An Intraday Trend Change Level.

Bank  Nifty Expiry Range

Upper End of Expiry : 48675

Lower End of Expiry : 47888

Bank Nifty Intraday Trading Levels

Buy Above 48350 Tgt 48484, 48675  and 48888 ( Bank Nifty Spot Levels)

Sell Below 48213 Tgt 48108, 47943  and 47729 ( 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.

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.

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