Bank Nifty 22 Feb Trade Plan

By | February 21, 2024 10:57 pm

Foreign Institutional Investors (FIIs) exhibited a Bullish stance in the Bank Nifty Index Futures market by Buying 5339 contracts with a total value of 375 crores. This activity led to a increase of 9205 contracts in the Net Open Interest.

As Discussed in Last Analysis

Bank Nifty gave the big move as per combo of astro and gann cycle. Now its time to be cautious on upside as “Bayer Rule 2: Trend goes down within 3 days when the speed difference between Mars and Mercury is 59 minutes. Leads to Big Move ” has come into effect and we can see downmove in next 2 trading session if the rules holds true, BUlls need to protect 46900 on downside for upmove to continue towards 47500.

We have seen impact of Bayers Rule No 2 and tommrow we have “RULE NO. 38 MERCURY LATITUDE HELIOCENTRIC Some mighty fine tops and bottoms are produced when Mercury in this motion passes the above mentioned degrees” and Venus conjunct Mars important aspect for short term trading. Intraday traders should watch for first 15 mins high and low to take trade, Mars is plannet of energy to it will lead to voalitle and fast swing tommrow.

Bank Nifty Trade Plan for Positional Trade ,Bulls will get active above 47124 for a move towards 47339/47554. Bears will get active below 46909 for a move towards 46694/46479.

Traders may watch out for potential intraday reversals at 10:39,11:41,12:31,1:14,02:19 How to Find and Trade Intraday Reversal Times

Bank Nifty Feb  Futures Open Interest Volume stood at 26.8 lakh, with liquidation of 0.17  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 04:08 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 

Bank Nifty  has closed above its 30 DMA and above 46666 gann level.

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 43344-44634-45923-47290. 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 turned from 47290

According to the Bank Nifty options chain, the call side has the highest open interest (OI) at the 47000 strike, followed by the 47300 strike. On the put side, the 46500 strike has the highest OI, followed by the 46300 strike.This indicates that market participants anticipate Bank Nifty to stay within the 46500-47300 range. 

The Bank Nifty options chain shows that the maximum pain point is at 47000 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 .

You’ve told yourself that you need to follow your rules, that you need to trade smaller, or that you should avoid trading during certain market conditions or times of day. Still you make the same mistakes, lose money, and build frustration., your attempts at change fail because they lack emotional force.

For Positional Traders, The Bank Nifty Futures’ Trend Change Level is At 46041. 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 47142 , Which Acts As An Intraday Trend Change Level.

BANK Nifty Intraday Trading Levels

Buy Above 47050 Tgt 47200, 47324 and 47512  (BANK  Nifty Spot Levels)

Sell Below 46970 Tgt 46866, 46752 and 46610 (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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