Bank Nifty 26 June 2024 Monthly Expiry Trade Plan

By | June 25, 2024 11:22 pm

Foreign Institutional Investors (FIIs) exhibited a Bullish stance in the Bank Nifty Index Futures market by Buying 19459 contracts with a total value of 1534 crores. This activity led to a increase of 30323 contracts in the Net Open Interest.

As Discuused in Last Analysis

Bank nifty for 3 days trading in a range also we had confluence of astro date yesterday as discussed in below video so we can see an explosive move in next 2 trading session with levels as discussed below.

Bank Nifty made a fresh all time high today once the high of Monday was taken out, which was very important astro date. Tommrow we have Bayer Rule 20: Moves are when Mercury passes 17 degrees 18 minutes 27 seconds of Cancer in Geocentric. Imp Rule so first 15 mins High and Low will guide for the day. Price is also nearing its 3×4 gann angle resistance zone which come in range of 52800-53000.

Bank Nifty Trade Plan for Positional Trade ,Bulls will get active above 52657 for a move towards 52885/53112/53340. Bears will get active below 52430 for a move towards 52202/51975/51747

Traders may watch out for potential intraday reversals at 10:06,10:39,12:19,01:34,02:35  How to Find and Trade Intraday Reversal Times

Bank Nifty June Futures Open Interest Volume stood at 18.2 lakh, with liquidation of 2.1 lakh contracts. Additionally, the increase in Cost of Carry implies that there was a covering of SHORT positions today.

Bank Nifty Advance Decline Ratio at 09:03 and Bank  Nifty Rollover Cost is @49365 closed below it.

Bank Nifty Gann Monthly  Trade level :49476 closed above it.

Bank Nifty closed above 20 SMA @50009 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 52800 strike, followed by the 53000  strike. On the put side, the 52500  strike has the highest OI, followed by the 52000 strike.This indicates that market participants anticipate Bank Nifty to stay within the 52000-53000 range. 

The Bank Nifty options chain shows that the maximum pain point is at 52600 and the put-call ratio (PCR) is at 1.30. 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 a trader is confused about what he is doing, the probable win ratio is zero and he might as well give up trading.

For Positional Traders, The Bank Nifty Futures’ Trend Change Level is At 51796 . 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 50084, Which Acts As An Intraday Trend Change Level.

BANK  Nifty Expiry Range

Upper End of Expiry : 53000

Lower End of Expiry : 52211

BANK Nifty Intraday Trading Levels

Buy Above 52666 Tgt 52800, 52985 and 53166 ( BANK Nifty Spot Levels)

Sell Below 52480 Tgt 52366, 52247  and 52108 (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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