Foreign Institutional Investors (FIIs) exhibited a Bearish stance in the Bank Nifty Index Futures market by Shorting 9221 contracts with a total value of 663 crores. This activity led to a decrease of 1987 contracts in the Net Open Interest.
Mercury and Jupiter both have turned direct as discuused in below video, Mercury is moving in Sagittarius. Today we have Moon Declination which is very important as discussed in below video. Intrdaay traders can use first 15 mins High and low to trade.
Mercury and Jupiter both have turned direct as discuused in below video.Tommrow Mars is also moving to Capricon, IN last 1 Week Venus/Merucry/Mars has changed sign. As Multiple plannets change sign Market also trend to changes the direction. Mars is an energy plannet so tommrow we can see an explosive move. Till Below 47690 Bears have upperhand. Price is just holding on to its Gann Angle as showsn below.
Bank Nifty Trade Plan for Positional Trade ,Bulls will get active above 47817 for a move towards 48037/48257 . Bears will get active below 47597 for a move towards 47376/47156
Traders may watch out for potential intraday reversals at 10:00,11:35,12:01,1:41,2:20 How to Find and Trade Intraday Reversal Times
Bank Nifty Dec Futures Open Interest Volume stood at 19.9 lakh, liquidation of 2.8 lakh contracts. Additionally, the decrease in Cost of Carry implies that there was a addition of SHORT positions today.
Bank Nifty Advance Decline Ratio at 01:11 and Bank Nifty Rollover Cost is @48411 closed below it.
Bank Nifty Gann Monthly Trend Change Level : 47905
Bank Nifty is near its 20 SMA @ 47667
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 47800 strike, followed by the 48000 strike. On the put side, the 47500 strike has the highest OI, followed by the 47300 strike.This indicates that market participants anticipate Bank Nifty to stay within the 47300-47800 range.
The Bank Nifty options chain shows that the maximum pain point is at 47700 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 .
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 48350 . 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 47929 , Which Acts As An Intraday Trend Change Level.
Bank Nifty Intraday Trading Levels
Buy Above 47729 Tgt 47842, 47979 and 48144 ( Bank Nifty Spot Levels)
Sell Below 47630 Tgt 47525, 47385 and 47212 ( 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.