Foreign Institutional Investors (FIIs) exhibited a Bullish stance in the Bank Nifty Index Futures market by Buying 1761 contracts with a total value of 128 crores. This activity led to a decrease of 2691 contracts in the Net Open Interest.
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.
Mars has shown its impact we saw a big move in Bank Nifty, Bank Nifty opened above 47690 so bears were on backhand from the opening and Mars added fuel to fire. TIll Bulls are holding 47729 Bank Nifty is moving towards its all time high towards 48500/48666.Bears only have chance once below 47729.
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 10:17,11:40,1:05,2:12 How to Find and Trade Intraday Reversal Times
Bank Nifty Dec Futures Open Interest Volume stood at 20.4 lakh, addition of 0.48 lakh contracts. Additionally, the decrease in Cost of Carry implies that there was a covering of SHORT positions today.
Bank Nifty Advance Decline Ratio at 10:02 and Bank Nifty Rollover Cost is @48411 closed below it.
Bank Nifty Gann Monthly Trend Change Level : 47905
Bank Nifty has bounced from it 20 SMA @ 47735
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 48200 strike, followed by the 48500 strike. On the put side, the 48000 strike has the highest OI, followed by the 47700 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 48200 and the put-call ratio (PCR) is at 0.96 . 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 .
Don’t be afraid to ask for help. If you’re struggling with trading, don’t be afraid to ask for help from a more experienced trader. There are many resources available to help you improve your trading skills.
For Positional Traders, The Bank Nifty Futures’ Trend Change Level is At 48346 . 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 48329 , Which Acts As An Intraday Trend Change Level.
Bank Nifty Intraday Trading Levels
Buy Above 48225 Tgt 48400, 48555 and 48666 ( Bank Nifty Spot Levels)
Sell Below 48000 Tgt 47850, 47666 and 47444 ( 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.