Bank Nifty 16 Jan Trade Plan

By | January 16, 2024 9:04 am

Foreign Institutional Investors (FIIs) exhibited a Bullish stance in the Bank Nifty Index Futures market by Buying 5748 contracts with a total value of 415 crores. This activity led to a decrease of 2354 contracts in the Net Open Interest.

As Discussed in Last Analysis

Infosys is trading at 5% up it will impact Bank Nifty if  Nifty has to trade Neutral based on Increase in US CPI Data. Break of today low 47282 can lead to fall towards 47062/46882. Today were 2 Important astro date and 14 Jan is Bank NIfty Gann Aniversay date  and Solar Eclipse time cycle date so carry overnight position tommrow with hedge.

CPI 0.3% MoM, Exp. 0.2% CPI 3.4% YoY, Exp. 3.2%

CPI Core 0.3% MoM, Exp. 0.3% CPI Core 3.9% YoY, Exp. 3.8%

Bank Nifty has closed above its 20 SMA and now for Bulls to sustain for this uptrend need to close above Monday High 48250 as its High of Solar Eclipse TIme cycle and Mercury Ingress. Today we have HDFC Bank Results which will come during market hours so be ready for a voaltile move.


Bank Nifty Trade Plan for Positional Trade ,Bulls will get active above 48311 for a move towards 48528/48745 . Bears will get active below 48094 for a move towards 47878/47661/47444.

Traders may watch out for potential intraday reversals at 10:00,11:02,12:51,1:31,2:17 How to Find and Trade Intraday Reversal Times

Bank Nifty Dec Futures Open Interest Volume stood at 20.2 lakh, addition of 0.13 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 09:03 and Bank  Nifty Rollover Cost is @48411 closed below it. 

Bank Nifty Gann Monthly Trend Change Level : 47763 — Closed above it.

Bank Nifty  has closed above its  20 SMA @ 47837




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 48300 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 0.88 . 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 48094. 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 48187, Which Acts As An Intraday Trend Change Level.

Bank Nifty Intraday Trading Levels

Buy Above 48200 Tgt 48323, 48444 and 48555 ( Bank Nifty Spot Levels)

Sell Below 48077 Tgt 47920, 47800 and 47666 ( 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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