Bank Nifty Jan 2024 Monthly Expiry Analysis

By | January 25, 2024 8:52 am

Foreign Institutional Investors (FIIs) exhibited a Bullish stance in the Bank Nifty Index Futures market by Buying 4906 contracts with a total value of 306 crores. This activity led to a increase of 13798  contracts in the Net Open Interest.

As Discussed in Last Analysis

We have seen Impact of Double Ingress  of Sun and Pluto as discussed in below Video. We saw a big crack in PSU bank, Today we had Venus Ingress and first 15 mins low was broken and we saw the big decline. Price is back to its Gann Angle support zone. 200 DMA is coming at 44648 and Gann Annual Trend Change level is 44680 so keep a watch on both levels. Price has closed below 45370 Octave Point.

Bank NIfty has bounced from its 200 DMA, Today we have Full Moon and Weekly closing and Monthly expiry. We will again see Volatile move due to Lunar cycle. Again watch for first 15 mins HIgh and Low to capture trend for the day, Intraday traders watch out for 12:18 for a trend change.



Bank Nifty Trade Plan for Positional Trade ,Bulls will get active above 45174 for a move towards 45389/45604. Bears will get active below 44959 for a move towards 44744/44529

Traders may watch out for potential intraday reversals at 09:15,10:28,11:18,12:18,2:52  How to Find and Trade Intraday Reversal Times

Bank Nifty Jan Futures Open Interest Volume stood at 19.4 lakh, addition of 6.4 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 06:05 and Bank  Nifty Rollover Cost is @48411 closed below it. 

Bank Nifty Gann Annual  Trend Change Level : 44680 

Bank Nifty  has closed bounced from its 200 DMA.

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 43344-44634-45923. 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 45300 strike, followed by the 45500   strike. On the put side, the 45000 strike has the highest OI, followed by the 44800 strike.This indicates that market participants anticipate Bank Nifty to stay within the 44800-45300 range. 

The Bank Nifty options chain shows that the maximum pain point is at 45100 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 .

Those who rid themselves of their egos are rewarded greatly. They are the superstars of their fields. In the market, rewards come in the form of profits. In the world of art, masterpieces are the results. In sports, the players are all-stars and command enormous salaries. Every pursuit has its own manifestation of victory over the ego.

For Positional Traders, The Bank Nifty Futures’ Trend Change Level is At 45257. 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 44989, Which Acts As An Intraday Trend Change Level.

BANK Nifty Expiry Range

Upper End of Expiry : 45338

Lower End of Expiry : 44661


BANK Nifty Intraday Trading Levels

Buy Above 45108 Tgt 45225, 45385 and 45555 (BANK  Nifty Spot Levels)

Sell Below 45050 Tgt 44920, 44800 and 44661 (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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