Foreign Institutional Investors (FIIs) exhibited a Bearish stance in the Bank Nifty Index Futures market by Shorting 3266 contracts with a total value of 227 crores. This activity led to a increase of 6262 contracts in the Net Open Interest.
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.
Tommrow we have Mars Ingress, Mars is plannet of Energy it will add energy to the move, Also we have an important Solar Eclipse date so be ready for another voaltile move tommrow. Bank Nifty has closed below its 1×2 gann angle 200 DMA and price has closed below Octave point of 44370 . Fresh shorts below 44680 which is gann Annula trend change level for a move towards 44000.
Bank Nifty Trade Plan for Positional Trade ,Bulls will get active above 45061 for a move towards 45272/45482/45693. Bears will get active below 44850 for a move towards 44639/44429.
Traders may watch out for potential intraday reversals at 09:36,10:14,11:10,12:05,02:32 How to Find and Trade Intraday Reversal Times
Bank Nifty Feb Futures Open Interest Volume stood at 32.3 lakh, with addition of 1.06 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 00:12 and Bank Nifty Rollover Cost is @45685 closed below 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 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 45000 strike, followed by the 45500 strike. On the put side, the 44800 strike has the highest OI, followed by the 44500 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 45842 . 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 42577 , Which Acts As An Intraday Trend Change Level.
BANK Nifty Intraday Trading Levels
Buy Above 45000 Tgt 45125, 45300 and 45535 (BANK Nifty Spot Levels)
Sell Below 44800 Tgt 44666, 44512 and 44323 (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.
Too good excellent