Mars Ingress Imapact on Bank Nifty 22 March Trade Plan

By | March 22, 2024 7:31 am

Foreign Institutional Investors (FIIs) exhibited a Bearish stance in the Bank Nifty Index Futures market by Shorting 79  contracts with a total value of 7   crores. This activity led to a increase of 987 contracts in the Net Open Interest.

As Discuused in Last Analysis

The Nifty Bank recorded its longest losing streak in nearly 12 years, falling for the ninth consecutive sessions, and again, Price again closed below 46656 and formed another DOji, Bank Nifty has formed 5 DOJI in last 5 trading session and tommrowe we will react to FOMC decision on Interst rates, Till Prices are below 46656 Bears have upper hand.

Bank Nifty again failed to  close above the 50 SMA and made another DOJI, Tomorrow, IT stocks will take a beating as Accenture has lowered the growth forecast, suggesting Bank Nifty has to take a lead for market to stablize. Bears need to break 46656 for dowmove to continue. We have Mars ingress and Saturn conjunct Venus aspects, both very important as discussed below. Also, we have a trading holiday on Monday, so carry overnight positions with hedges only.

Bank Nifty Trade Plan for Positional Trade ,Bulls will get active above 46899 for a move towards 7113/47327/47541 . Bears will get active below 46471 for a move towards 46257/46042/45828.

Traders may watch out for potential intraday reversals at 09:15,09:52,10:23,11:32,12:49,02:12  How to Find and Trade Intraday Reversal Times

Bank Nifty Feb  Futures Open Interest Volume stood at 19.3 lakh, with liqudiation of 0.2  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 11:01and Bank  Nifty Rollover Cost is @45685 closed above it. 

Bank Nifty Gann Monthly  Trade level :47108  closed below it.

Bank Nifty  has closed below its 20/50 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 47200 strike. On the put side, the 46500 strike has the highest OI, followed by the 46200  strike.This indicates that market participants anticipate Bank Nifty to stay within the 46000-47000 range. 

The Bank Nifty options chain shows that the maximum pain point is at 46700 and the put-call ratio (PCR) is at 0.88. 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 47229  . 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 46884, Which Acts As An Intraday Trend Change Level.


BANK Nifty Intraday Trading Levels

Buy Above 46729 Tgt 46864, 47000 and 47168 ( BANK Nifty Spot Levels)

Sell Below 46610 Tgt 46512, 46343 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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