Foreign Institutional Investors (FIIs) exhibited a Bullish stance in the Bank Nifty Index Futures market by Buying 2746 contracts with a total value of 211 crores. This activity led to a increase of 41460 contracts in the Net Open Interest.
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 showed a sharep reversal and 50% of loss were recovered bak, Bank Nifty is showing wild moves due to election newsflow and astro impact of Venus, With Weekly expiry the impact become multi flow. Traders need to trade with less position size with these wild swing Tommrow we hae NEW MOON so another round of voaltile move will be seen, Tommrow also watch for 15 mins High and Low to plan the trade.
Bank Nifty Trade Plan for Positional Trade ,Bulls will get active above 49192 for a move towards 49412/49632/49852/50072. Bears will get active below 48973 for a move towards 48753/48533/48313.
Traders may watch out for potential intraday reversals at 09:20,10:20,11:38,12:19,1:10,2:07 How to Find and Trade Intraday Reversal Times
Bank Nifty June Futures Open Interest Volume stood at 28.5 lakh, with addition of 3.8 lakh contracts. Additionally, the increase in Cost of Carry implies that there was a addition of LONG positions today.
Bank Nifty Advance Decline Ratio at 12:00 and Bank Nifty Rollover Cost is @49365 closed below it.
Bank Nifty Gann Monthly Trade level :50889 closed below it.
Bank Nifty closed above 20 SMA @48380 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 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 49500 strike, followed by the 50000 strike. On the put side, the 48500 strike has the highest OI, followed by the 48000 strike.This indicates that market participants anticipate Bank Nifty to stay within the 48500-49500 range.
The Bank Nifty options chain shows that the maximum pain point is at 49000 and the put-call ratio (PCR) is at 0.97 . 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 .
You can’t try to be a disciplined trader. You must be a disciplined person to be a disciplined trader. Trading is a reflection of your personal Life. A Trader cannot become a profitable trader until he becomes a more disciplined person.
For Positional Traders, The Bank Nifty Futures’ Trend Change Level is At 49184. 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 48094, Which Acts As An Intraday Trend Change Level.
BANK Nifty Intraday Trading Levels
Buy Above 49192 Tgt 49323, 49555 and 49729 ( BANK Nifty Spot Levels)
Sell Below 48973 Tgt 48800, 48666 and 48444 (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.