Foreign Institutional Investors (FIIs) exhibited a Bearish stance in the Bank Nifty Index Futures market by Shorting 3161 contracts with a total value of 222 crores. This activity led to a decrease of 58023 contracts in the Net Open Interest.
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 had a quiet expiry yesterday apart from last 20 mins buying by MSCI, and formed a monthly DOJI Today being first day of Series and Month watch out for open price it will guide for the day. Bulls need a close above 22050 and Bears below 21900 for range expansion.
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 10:12,11:14,12:05,01:23,02:38 How to Find and Trade Intraday Reversal Times
Bank Nifty Feb Futures Open Interest Volume stood at 24.4 lakh, with addition of 6.1 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 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 50/100 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 .
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For Positional Traders, The Bank Nifty Futures’ Trend Change Level is At 46384 . 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 46384, Which Acts As An Intraday Trend Change Level.
BANK Nifty Intraday Trading Levels
Buy Above 46200 Tgt 46323, 46500 and 46666 (BANK Nifty Spot Levels)
Sell Below 46070 Tgt 45980, 45820 and 45666 (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.