Bank Nifty, 19 March 2024 Trade Plan

By | March 19, 2024 8:54 am

Foreign Institutional Investors (FIIs) exhibited a Bearish stance in the Bank Nifty Index Futures market by Shorting 5102 contracts with a total value of 357 crores. This activity led to a increase of 3798 contracts in the Net Open Interest.

As Discuused in Last Analysis

Bank Nifty saw a small dip yesterday which was nowhere near what carnage we have seen in Small and Mid Cap space, Thanks to Weekly expiry and HDFC Bank, But it been observed the effect will be seen in next day if somehow market do not react on Weekly expiry day. Today we have “Bayer Rule 2: Trend goes down within 3 days when the speed difference between Mars and Mercury is 59 minutes. Leads to Big Move ” So If Bank Nifty breaks 46900 we can see fast decline towards 46656 whic us an important gann number.

Bank NIfty continue to make lower low and price is closing below 46656 and almost at gann angle, suggesting possible price time squaring. Price has completed 144 Days and 99 Bar from 26 Oct 2023 low. Also we have Important Astro Event involving Mercury and Neptune as discussed in below video suggesting we should see trending move in bank nifty in next 2 trading session. Bulls need an close above 46656 ,Bears below 46225.

Bank Nifty Trade Plan for Positional Trade ,Bulls will get active above 46579  for a move towards 46796/47014/47231 . Bears will get active below 46362  for a move towards 466144/45927/45710.

Traders may watch out for potential intraday reversals at 09:15,10:01,10:45,12:12,01:56,02:27  How to Find and Trade Intraday Reversal Times

Bank Nifty Feb  Futures Open Interest Volume stood at 19.2 lakh, with liqudiation of 3.6 lakh contracts. Additionally, the decrease in Cost of Carry implies that there was a closeure 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  Trade level :47108  closed below it.

Bank Nifty  has closed near its 50/100 DMA

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 46300-47000 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 47366 . 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 46653 , Which Acts As An Intraday Trend Change Level.

BANK Nifty Intraday Trading Levels

Buy Above 46610 Tgt 46729, 46900 and 47040 (BANK  Nifty Spot Levels)

Sell Below 46510 Tgt 46380, 46225 and 46108 (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.

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