Bank Nifty 09 Feb Trade Plan Post RBI Policy

By | February 9, 2024 8:55 am

Foreign Institutional Investors (FIIs) exhibited a Bearish stance in the Bank Nifty Index Futures market by Shorting 3580 contracts with a total value of 247 crores. This activity led to a increase of 2184 contracts in the Net Open Interest.

As Discussed in Last Analysis

Bank Nifty continue to trade in mercury ingress range from last 3 trading session. Tommrow RBI Policy will come at 10 AM,Trade after 11 AM, we will see volatile move in last 1 hour tommrow. 09 Feb is New Moon day so we can start new trend on Friday.

Bank NIfty broke the mercury ingress low and closed below its 1×2 gann angle. Price has broken 50% octave point and is now near its 200 DMA @44865. Price has already touched 200 DMA 3 times in last 1 month. Break of 200 DMA can lead to selling towards 44000. Price has done 72 trading days from 26 Oct low leading to perfect gann price time squaring. Today is NEW MOON so first 15 mins High and Low will guide for thee day.

Bank Nifty Trade Plan for Positional Trade ,Bulls will get active above 45106 for a move towards 45321/45536/45751. Bears will get active below 44891 for a move towards 44676/44462

Traders may watch out for potential intraday reversals at 09:36/10:49,11:24,12:18,2:34 How to Find and Trade Intraday Reversal Times

Bank Nifty Feb  Futures Open Interest Volume stood at 33.1 lakh, with addition of 1.25lakh contracts. Additionally, the decrease in Cost of Carry implies that there was a addition of SHORT positions today.

Bank Nifty Advance Decline Ratio at 03:09 and Bank  Nifty Rollover Cost is @45685 closed above it. 

Bank Nifty Gann Monthly  Buy Trade level : 46450 and Gann Monthly  Sell Trade level : 45879 — Closed below it.

Bank Nifty  has closed above its 200/100 DMA but failed closed 100/50/20 DMA. Trend is Sell on Rise till we close above 45250.

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 44800 strike has the highest OI, followed by the 445000 strike.This indicates that market participants anticipate Bank Nifty to stay within the 44500-45300 range. 

The Bank Nifty options chain shows that the maximum pain point is at 45000 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 .

If you want to be a good trader “Be the Best Listener.” Listen To Market, Experienced Traders. If a losing trade sets you off, then this can affect your trades going forward. And this is dangerous. We call this trading on “tilt.”

For Positional Traders, The Bank Nifty Futures’ Trend Change Level is At 45919. 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 45788, Which Acts As An Intraday Trend Change Level.

BANK Nifty Intraday Trading Levels

Buy Above 45050  Tgt 45185, 45323 and 45537 (BANK  Nifty Spot Levels)

Sell Below 44900 Tgt 44777, 44610  and 44444 (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 Bank Nifty Astrology

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.

Leave a Reply