Bank Nifty Feb 2024 Monthly Expiry Analysis

By | February 28, 2024 11:26 pm

Foreign Institutional Investors (FIIs) exhibited a Bearish stance in the Bank Nifty Index Futures market by Shorting 1033 contracts with a total value of 87 crores. This activity led to a decrease of 4913 contracts in the Net Open Interest.

As Discussed in Last Analysis

Bank Nifty continue to trade in small range today we have Sun Conjunct Mercury and Saturn at extreme declination so we can high intensity day suggesting we can see breakout/breakdown in bank nifty with levels as mentioned below.Intraday traders can watch for first 15 mins High and Low to capture the trend of the day.

Bank NIfty saw the impact of astro cycle and we saw a big move, Tommrow we have monthly close and MSCI rebalancing so again we are bound to see voaltile move. Also Aspect today are very important as discussed in below video Bulls would be happy to close around 46164 and Bears near 45600-45650 range.

Bank Nifty Trade Plan for Positional Trade ,Bulls will get active above 46105 for a move towards 46322/46538/46754 . Bears will get active below 45889 for a move towards 45673/45457/45241

Traders may watch out for potential intraday reversals at 09:37,10:15,11:00,12:50,01:52,02:38 How to Find and Trade Intraday Reversal Times

Bank Nifty Feb  Futures Open Interest Volume stood at 13.3 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 00:12 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 50/100 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 46000 strike, followed by the 46300 strike. On the put side, the 45800 strike has the highest OI, followed by the 45500 strike.This indicates that market participants anticipate Bank Nifty to stay within the 45500-46300 range. 

The Bank Nifty options chain shows that the maximum pain point is at 46000 and the put-call ratio (PCR) is at 0.72 . 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 46173. 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 46229, Which Acts As An Intraday Trend Change Level.

Bank Nifty Expiry Range

Upper End of Expiry : 46355

Lower End of Expiry : 45570

BANK Nifty Intraday Trading Levels

Buy Above 46076 Tgt 46190, 46330 and 46450 (BANK  Nifty Spot Levels)

Sell Below 45900 Tgt 45800, 45666 and 45500 (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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