Bank Nifty Trade Plan for 31 Jan 2024 Weekly Expiry

By | January 31, 2024 12:14 am

Foreign Institutional Investors (FIIs) exhibited a Bullish stance in the Bank Nifty Index Futures market by Buying 3968 contracts with a total value of 271 crores. This activity led to a decrease of 2120 contracts in the Net Open Interest.

As Discussed in Last Analysis

Bank Nifty bounced from its gann angle and we saw the imapct of gann and astro cycle as discussed in below video.  Till BUlls are holding 45370 price can see rally towards 45800/46187. Bears are having chance below 45110 only.

Bank Nifty formed a DOJI , VIX has touched 16 and next 2 days Volatility will be huge. Bulls need to protect 45110 for rally tommrow  , Bears below 45000 can lead to fall towards the last swing low of 44729/44444.Tommrow we have Moon Declination which leads to voaltile move. We have Monthly close tommrow Bears would like to close 45000. Price is back to gann angle suport.


Bank Nifty Trade Plan for Positional Trade ,Bulls will get active above 45482 for a move towards 45693/45904. Bears will get active below 45270 for a move towards 45061/44850.

Traders may watch out for potential intraday reversals at 9:15,10:32,12:37,01:15,02:43   How to Find and Trade Intraday Reversal Times

Bank Nifty Feb  Futures Open Interest Volume stood at 32.9 lakh, liqudiation of 0.11   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 06:06 and Bank  Nifty Rollover Cost is @45685 closed below it. 

Bank Nifty Gann Annual  Trend Change Level : 44680 

Bank Nifty  has closed above its 200 DMA but failed closed 100 DMA. Trend is Sell on Rise.

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 45500 strike, followed by the 46000   strike. On the put side, the 45000 strike has the highest OI, followed by the 44500 strike.This indicates that market participants anticipate Bank Nifty to stay within the 45000-46000 range. 

The Bank Nifty options chain shows that the maximum pain point is at 45300 and the put-call ratio (PCR) is at 0.80 . 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 .

If you want to be a successful trader going through a loss making period You need to learn the art of losing.If you condition your mind to lose without anxiety without emotional attachment and without desire to get even.. Things will start turning around for you.

For Positional Traders, The Bank Nifty Futures’ Trend Change Level is At 45415 . 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 45680 , Which Acts As An Intraday Trend Change Level.

BANK Nifty Expiry Range

Upper End of Expiry : 45749

Lower End of Expiry : 44984


BANK Nifty Intraday Trading Levels

Buy Above 45444 Tgt 45610, 45767 and 45890 (BANK  Nifty Spot Levels)

Sell Below 45250 Tgt 45156, 45000 and 44800 (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 Time Cycle

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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