Sun Ingress and Israeli Airstrikes In Iraq : Bank Nifty 19 April 2024 Trade Plan

By | April 19, 2024 9:02 am

Foreign Institutional Investors (FIIs) exhibited a Bearish stance in the Bank Nifty Index Futures market by Shorting 21847 contracts with a total value of 1561 crores. This activity led to a decrease of 257 contracts in the Net Open Interest.

As Discuused in Last Analysis

Bank Nifty experienced a significant fall due to the Solar Eclipse 180 Degree effect and the Sun conjunct Mercury, as discussed below. Currently, Bank Nifty is near its 20/30 SMA, indicating a potential bounce as long as it holds above 47,391 on the downside. Today’s market opening at 09:15 is crucial for setting the trend of the day, with the first five minutes being particularly important.

Additionally, Infosys is announcing its results today, which may lead to movement opposite to Infosys’s performance. If Bank Nifty falls below 47,391 (the monthly open), bears may witness a sharp drop toward 47,000.

Tomorrow is an important day with key astro dates, so a significant move could be expected.

Israel has conducted an attack, which is expected to impact market openings significantly. The Bank  Nifty is likely to open with a gap down 46656  should be watched out for swing traders,Intraday  traders should closely monitor the high and low of the first 15 minutes of trading to determine the day’s trend.

Today also sees a conjunction of Mercury and Venus, two inner planets known for causing swift market movements. This emphasizes the need for traders to be flexible and agile in their approach. Adaptability and quick decision-making will be key to navigating the market dynamics effectively today.

Bank Nifty Trade Plan for Positional Trade ,Bulls will get active above 46955 for a move towards 47173/47392/47611 . Bears will get active below 46656  for a move towards 46517/46298/46080

Traders may watch out for potential intraday reversals at 9:45,11:49,12:36,2:01 How to Find and Trade Intraday Reversal Times

Bank Nifty April Futures Open Interest Volume stood at 18.3 lakh, with liquidation of 0.20 lakh contracts. Additionally, the increase in Cost of Carry implies that there was a closeure of SHORT positions today.

Bank Nifty Advance Decline Ratio at 01:11 and Bank  Nifty Rollover Cost is @47224 closed above it.

Bank Nifty Gann Monthly  Trade level :47391 closed below  it.

Bank Nifty  has closed below its 20/30 DMA suggesting trend is SELL ON RISE

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 44610-45937-47265-48671. 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.

According to the Bank Nifty options chain, the call side has the highest open interest (OI) at the 47000 strike, followed by the 47500 strike. On the put side, the 46500 strike has the highest OI, followed by the 46000 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 47000  and the put-call ratio (PCR) is at 0.61. 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 .

If you don’t trust the system while you’re in a trade, you’ll become impatient. Impatience makes you exit too soon – afraid that profits will dissipate – or too late, because you don’t want to take a loss.

For Positional Traders, The Bank Nifty Futures’ Trend Change Level is At 47549 . 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 47488, Which Acts As An Intraday Trend Change Level.

BANK Nifty Intraday Trading Levels

Buy Above 46864  Tgt 47000, 47108 and 47256 ( BANK Nifty Spot Levels)

Sell Below 46610 Tgt 46485, 46323 and 46166  (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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