Bank Nifty 27 Feb Trade Plan

By | February 27, 2024 8:57 am

Foreign Institutional Investors (FIIs) exhibited a Bullish stance in the Bank Nifty Index Futures market by Buying 6948 contracts with a total value of 478 crores. This activity led to a decrease of 2178 contracts in the Net Open Interest.

As Discussed in Last Analysis

Mars did its work we saw a big volatile move as discussed. Bank nifty formed a DOJI, Today Mercury is changing Sign and we have FULL MOON on weekend so another volatile move will be seen, Market sign change genreally leads to trend change so bears need to break 46656 and Bulls need a move above 47089.

Bank NIfty formed a gravestone doji candel on Mercury Ingress and New Moon, Mercury  create short term voaltlity in market so lines are drawn Bears need to break 46500 and BUlls needs to 46900 for a 400-500+ move on either side. Due to Astro cycle  so we should see trending move in next 2 trading sesisons.

Bank Nifty Trade Plan for Positional Trade ,Bulls will get active above 46710 for a move towards 46928/47145/47363 . Bears will get active below 46492 for a move towards 46275/46057/45840

Traders may watch out for potential intraday reversals at 10:22,11:11,12:45,02:25 How to Find and Trade Intraday Reversal Times

Bank Nifty Feb  Futures Open Interest Volume stood at 19.8 lakh, with liquidation of 4.8 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 above it. 

Bank Nifty Gann Monthly  Buy Trade level : 46450 and Gann Monthly  Sell Trade level : 45879 

Bank Nifty  has closed below its 50 DMA and below 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 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 46800 strike, followed by the 47000 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 46300-46800 range. 

The Bank Nifty options chain shows that the maximum pain point is at 46500 and the put-call ratio (PCR) is at 0.82 . 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 .

Have you lost money recently? Have your trading weaknesses cost you money and opportunity? Consider embracing your flaws: every losing trade is there to teach you something.

For Positional Traders, The Bank Nifty Futures’ Trend Change Level is At 46153 . 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 46722 , Which Acts As An Intraday Trend Change Level.

BANK Nifty Intraday Trading Levels

Buy Above 46620 Tgt 46729, 46848 and 47000 (BANK  Nifty Spot Levels)

Sell Below 46500 Tgt 46400, 46281 and 46049 (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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