Bank Nifty 03 Jul 2024 Weekly Expiry Trade Plan

By | July 2, 2024 10:50 pm

Foreign Institutional Investors (FIIs) exhibited a Bearish Stance in the Bank Nifty Index Futures market by Shorting 2629 contracts with a total value of 207 crores. This activity led to a increase of 73 contracts in the Net Open Interest.

As Discuused in Last Analysis

Mercury Ingress and Neptune Retrograde (Neptune is considered as the planet of speculation in financial astrology.) today 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 ” all coming together today suggesting we are in for a volatile ride today.

Bank Nifty saw a decline of 400 points due to Kotak Bank fall based on Hinderburg Report , Tommrow Bank Nifty will open Gap up due to HDFC BANK MSCI Inflows of 3 Billion. We have multiple astro dates as discussed in below video, Bulls need a move above 52500 and Bears below 52000 for a trending move to come.

Bank Nifty Trade Plan for Positional Trade ,Bulls will get active above 52488 for a move towards 52719/52950. Bears will get active below 52027 for a move towards 51797/51566/51335.

Traders may watch out for potential intraday reversals at 10:18,11:21,01:12,02:01 How to Find and Trade Intraday Reversal Times

Bank Nifty July Futures Open Interest Volume stood at 24.4 lakh, with liquidation of 0.62 lakh contracts. Additionally, the increase in Cost of Carry implies that there was a liquidation of LONG positions today.

Bank Nifty Advance Decline Ratio at 01:11 and Bank  Nifty Rollover Cost is @52158 closed above it.

Bank Nifty Gann Monthly  Trade level :52351 closed below it.

Bank Nifty closed above 20 SMA @50688 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 51724-53263-54081. 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 52300 strike, followed by the 52500 strike. On the put side, the 52000 strike has the highest OI, followed by the 51800  strike.This indicates that market participants anticipate Bank Nifty to stay within the 52000-52500 range. 

The Bank Nifty options chain shows that the maximum pain point is at 52200 and the put-call ratio (PCR) is at 1.23. 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 52456. 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 52433, Which Acts As An Intraday Trend Change Level.

BANK  Nifty Expiry Range

Upper End of Expiry : 52564

Lower End of Expiry : 52035

BANK Nifty Intraday Trading Levels

Buy Above 52250 Tgt 52400, 52610 and 52729 ( BANK Nifty Spot Levels)

Sell Below 52108 Tgt 51986, 51833 and 51610 (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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