Sun Conjunct Mercury: Bank Nifty 28 Feb Trade Plan

By | February 28, 2024 8:58 am

Foreign Institutional Investors (FIIs) exhibited a Bearish stance in the Bank Nifty Index Futures market by Shorting 477 contracts with a total value of 41  crores. This activity led to a increase of 3799 contracts in the Net Open Interest.

As Discussed in Last Analysis

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 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 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 09:15,10:18,11:03,12:48,01:56 How to Find and Trade Intraday Reversal Times

Bank Nifty Feb  Futures Open Interest Volume stood at 18.2 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 46170. 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 46548  , Which Acts As An Intraday Trend Change Level.

BANK Nifty Intraday Trading Levels

Buy Above 46610 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.

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