Bank Nifty 11 Jan Trade Plan

By | January 11, 2024 8:52 am

Foreign Institutional Investors (FIIs) exhibited a Bullish stance in the Bank Nifty Index Futures market by Shorting 5762 contracts with a total value of 410  crores. This activity led to a decrease of 1790 contracts in the Net Open Interest.

As Discussed in Last Analysis

Tommrow we have Moon Declination and SUN Square North Node Aspect, North Node will create voaltlity in the market so be ready for another voaltile move like today. Price has closed below 47481 last week low of inside bar and Doji so bears can be more powerful if tommrow for 1 hour we are trading below 47481. Price has done retest of gann angle today and saw the decline. Weekly Inside bar target is minimum 500 points from 47481

We again saw a voaltile move yesterday with Rahu aka North Node creating voaltlity and bank nifty recovering in 2 session for the day, Price is still below 20 DMA and previous week low of 47481 and today being New Moon and Bayer Rule 27: Big tops and big major bottoms are when Mercury’s speed in Geocentric longitude is 59 minutes or 1 degree 58 minutes. We will get INFY and TCS Results today so again we will see voaltile move and tommrow we can see a trending move.

Bank Nifty Trade Plan for Positional Trade ,Bulls will get active above 47502 for a move towards 47722/47942 . Bears will get active below 47282 for a move towards 47062/46842 

Traders may watch out for potential intraday reversals at 10:13,12:35,1:10,1:49,2:35 How to Find and Trade Intraday Reversal Times

Bank Nifty Dec Futures Open Interest Volume stood at 21.8 lakh, liquidation of 0.76 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 05:07 and Bank  Nifty Rollover Cost is @48411 closed below it. 

Bank Nifty Gann Monthly Trend Change Level : 47763

Bank Nifty  has closed from it  20 SMA @ 47820




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.  Price is near 47265

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 47300 strike has the highest OI, followed by the 47000 strike.This indicates that market participants anticipate Bank Nifty to stay within the 47200-47800 range. 

The Bank Nifty options chain shows that the maximum pain point is at 47300 and the put-call ratio (PCR) is at 0.85 . 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 .

Understand the larger framework in which trading occurs—how the complexity of the marketplace and your personality both must be taken into account in order to develop the mastery of trading.

For Positional Traders, The Bank Nifty Futures’ Trend Change Level is At 48160. 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 47484 , Which Acts As An Intraday Trend Change Level.

Bank Nifty Intraday Trading Levels

Buy Above 47450 Tgt 47555, 47666 and 47824 ( Bank Nifty Spot Levels)

Sell Below 47210 Tgt 47108, 47000 and 46852 ( 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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