Gann Price Time Squaring : Bank Nifty 05 Jul 2024 Trade Plan

By | July 5, 2024 9:10 am

Foreign Institutional Investors (FIIs) exhibited a Bullish Stance in the Bank Nifty Index Futures market by Buying 4495 contracts with a total value of 356 crores. This activity led to a increase of 5437 contracts in the Net Open Interest.

As Discuused in Last Analysis

Bank NIfty made a fresh all time high today with HDFC Bank hitting all time high, Last year 03 JUl HDFC BANK made an 52 Week high and same cycle repeated again today with price making a fresh 52 week high. Break of 1760 can lead to price back to 1729  in HDFC BANK. Price is back to its 3×4 resistance zone @53408.

Bank NIfty made a fresh life high and touched the gann angle, and high made was near 53408 suggesting a potential price time squaring which can lead to downmove once price starts trading below 52500.

Bank Nifty Trade Plan for Positional Trade ,Bulls will get active above 52800 for a move towards 53000/53225 . Bears will get active below 52482 for a move towards 52211/52000

Traders may watch out for potential intraday reversals at 10:12,12:05,01:15,02:22  How to Find and Trade Intraday Reversal Times

Bank Nifty July Futures Open Interest Volume stood at 27.9 lakh, with addition of 0.1 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 06:05 and Bank  Nifty Rollover Cost is @52158 closed above it.

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

Bank Nifty closed above 20 SMA @51234 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 53000 strike, followed by the 53500 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 52500-53500 range. 

The Bank Nifty options chain shows that the maximum pain point is at 53000 and the put-call ratio (PCR) is at 0.92 . 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 52605 . 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 53075 , Which Acts As An Intraday Trend Change Level.

BANK Nifty Intraday Trading Levels

Buy Above 52610 Tgt 52729, 52900 and 53108 ( BANK Nifty Spot Levels)

Sell Below 52500 Tgt 52375, 52222 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.

Category: Bank Nifty Price Time Sqaure

About Bramesh

Bramesh Bhandari has been actively trading the Indian Stock Markets since over 15+ Years. His primary strategies are his interpretations and applications of Gann And Astro Methodologies developed over the past decade.

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