Bank Nifty 28 May 2024 Trade Plan

By | May 28, 2024 7:09 am

Foreign Institutional Investors (FIIs) exhibited a Bullish  stance in the Bank Nifty Index Futures market by Buying 21147 contracts with a total value of 1572 crores. This activity led to a decrease of 6417  contracts in the Net Open Interest.

As Discuused in Last Analysis

Jupiter in Gemni and “Bayer Rule 2: Trend goes down within 3 days when the speed difference between Mars and Mercury is 59 minutes. Leads to Big Move ” will come into effect today and Bank Nifty is also comleting 120 days from 24 Jan Low so again Gann and Astro cycle are confluencing suggesting we can see big move in coming week.

Bank Nifty saw the impact of Jupiter INgress as once it broke the first 15 mins HIgh we had an explosive move on upside, Today we have Jupiter Saturn Aspect both are the largest and second largest plannet of solar system so can cause explosive move again. INtraday traders watch out for first 15 mins HIgh and Low to plan the trade.


Bank Nifty Trade Plan for Positional Trade ,Bulls will get active above 49494 for a move towards 49715/49937/50158. Bears will get active below 49243  for a move towards 49020/48797/48574.

Traders may watch out for potential intraday reversals at 10:09,10:56,12:05,1:27,2:12 How to Find and Trade Intraday Reversal Times

Bank Nifty May Futures Open Interest Volume stood at 17.3 lakh, with liquidation of 3.9 lakh contracts. Additionally, the increase in Cost of Carry implies that there was a closeure of LONG positions today.

Bank Nifty Advance Decline Ratio at 11:01 and Bank  Nifty Rollover Cost is @47985 closed above it.

Bank Nifty Gann Monthly  Trade level :48449 closed above it.

Bank Nifty closed above 20 SMA @48384 Trend is Buy on Dips.

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 44610-45937-47265-48671-50077. 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 49500 strike, followed by the 50000 strike. On the put side, the 49000 strike has the highest OI, followed by the 48500 strike.This indicates that market participants anticipate Bank Nifty to stay within the 49000-50000 range. 

The Bank Nifty options chain shows that the maximum pain point is at 49300 and the put-call ratio (PCR) is at 0.98. 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 .

P&L is not dictated by our predictions but our trading skill And when you develop trading skills, it does not matter whether you accurately predict the top in a sector. It just matters that that sector is active. As long as it moves.

For Positional Traders, The Bank Nifty Futures’ Trend Change Level is At 49181 . 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 49458, Which Acts As An Intraday Trend Change Level.

BANK Nifty Intraday Trading Levels

Buy Above 49323 Tgt 49484, 49610 and 49777 ( BANK Nifty Spot Levels)

Sell Below 49200 Tgt 49050, 48888 and 48666 (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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