Foreign Institutional Investors (FIIs) exhibited a Bearish stance in the Bank Nifty Index Futures market by Shorting 55234 contracts with a total value of 4018 crores. This activity led to a decrease of 27216 contracts in the Net Open Interest.
Today we have Bayer Rule 19: We have tops when Venus in geocentric position passes the conjunction with the Sun. SUN Conju Venus so trade cautiously watch for Imtraday timeing to plan for the trade. Venus have strong impact on stock market so trade with extreme care, VIX will also decline today if no major surprises in Election Results.
Bank Nifty cracked today based on gann and astro studies as shown in below video. Downside till 46000-46100 is still open till we are below 47300levels. Tommrow again important astro date “Bayer Rule 15: VENUS HELIOCENTRIC LATITUDE AT EXTREME AND LEAST SPEEDS FOR MAJOR MOVES Imp Rule” so first 15 mins high and low will guide for the day.
Bank Nifty Trade Plan for Positional Trade ,Bulls will get active above 46936 for a move towards 47151/47365/47580. Bears will get active below 46721 for a move towards 46507/46292/46077
Traders may watch out for potential intraday reversals at 9:21,11:21,12:33,1:41,2:35 How to Find and Trade Intraday Reversal Times
Bank Nifty June Futures Open Interest Volume stood at 24.2 lakh, with addition of 1.96 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 00:12 and Bank Nifty Rollover Cost is @49365 closed above it.
Bank Nifty Gann Monthly Trade level :50889 closed below it.
Bank Nifty closed below 100 SMA @47287 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 50077-51567-53056. 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 47500 strike, followed by the 48000 strike. On the put side, the 47000 strike has the highest OI, followed by the 46500 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 0.91 . 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 .
The only reason to get into a trade is if you see an opportunity and you feel the market has a good chance of moving in your direction. But the reason people usually add on to their losing positions is not because they see another opportunity, but because they don’t want their first opinion to be wrong.
For Positional Traders, The Bank Nifty Futures’ Trend Change Level is At 49366 . 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 48319 , Which Acts As An Intraday Trend Change Level.
BANK Nifty Intraday Trading Levels
Buy Above 46936 Tgt 47151, 47365 and 47580 ( BANK Nifty Spot Levels)
Sell Below 46721 Tgt 46507, 46292 and 46077 (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.