RBI Bans Kotak Bank : Bank Nifty 25 April Analysis

By | April 25, 2024 8:53 am

Foreign Institutional Investors (FIIs) exhibited a Bullish stance in the Bank Nifty Index Futures market by Buying 1790 contracts with a total value of 128  crores. This activity led to a decrease of 23620 contracts in the Net Open Interest.

As Discuused in Last Analysis

Bank Nifty has continue to trade above its Monday Low of 47628, TIll its holding this level BUlls will have upper hand. Price is trading well above 1×2 Gann Angle, today watch out for 01:46-01:50 time for a strong reversal in Bank Nifty.

RBI bans Kotak Bank for onboarding of new customers via online and mobile banking also and also bans issuance of new credit cards. Kotak Bank has weightage of 10% on Bank Nifty and Axis Bank has around 9%. Axis Bank came with a good set of numbers so Axis Bank can counter Kotak Bank,  Today Mercury Retrograde is getting over which generally leads to trend change, Bulls need to protect 47818 unable to do so can lead to fall towards 47525. Bank NIfty has formed an NR7 pattern suggesting we should see a big move in bank nifty is next 2 trading session.


Bank Nifty Trade Plan for Positional Trade ,Bulls will get active above 48064 for a move towards 48283/48501/48719 . Bears will get active below 47818 for a move towards 47576/47376/47157/46937

Traders may watch out for potential intraday reversals at 09:49,11:22,12:17,1:08,1:43 How to Find and Trade Intraday Reversal Times

Bank Nifty May Futures Open Interest Volume stood at 16.1 lakh, with addition of 4.5 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 06:06 and Bank  Nifty Rollover Cost is @47985 closed above it.

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

Bank Nifty closed above 20/50/100 SMA, Trend is Buy on Dips till above 47818.

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 48000 strike, followed by the 48500 strike. On the put side, the 47500 strike has the highest OI, followed by the 47000 strike.This indicates that market participants anticipate Bank Nifty to stay within the 47500-48500 range. 

The Bank Nifty options chain shows that the maximum pain point is at 48000  and the put-call ratio (PCR) is at 0.81. 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 .

Simplicity in trading demonstrates wisdom. Complexity is the sign of inexperience.

For Positional Traders, The Bank Nifty Futures’ Trend Change Level is At 48369 . 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 48308 , Which Acts As An Intraday Trend Change Level.


BANK Nifty Intraday Trading Levels

Buy Above 48050 Tgt 48171, 48306 and 48417 ( BANK Nifty Spot Levels)

Sell Below 47900 Tgt 47800, 47666 and 47512 (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.

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