Foreign Institutional Investors (FIIs) exhibited a Bearish Stance in the Bank Nifty Index Futures market by Shorting 61286 contracts with a total value of 4718 crores. This activity led to a increase of 15640 contracts in the Net Open Interest.
Bank Nifty saw a decline today after the government increased the STCG and LTCG tax. However, the Gann and Astro cycles predicted this, as discussed in the video below. If 52182 is not crossed tomorrow, we could see a decline back to 51300-51100 . With Reduction in Gold Duty Bank will again see in fall in deposits which will impact the NIM which will again be a negative in short term.
Tomorrow we will have Mercury Ingress. Mercury, being the nearest planet to the Sun, impact Bank Nifty also Additionally, with the Moon being the nearest to Earth, we will see a significant impact on Bank Nifty. Price is forming lower low on daily chart after touching 3×4 gann angle and saw mometum after time cycle date, The Moon, being the planet of emotions, will cause volatile movements. We can expect an explosive move in Bank Nifty; watch for the first 15 minutes’ high and low to capture the trend for the day
Bank Nifty Trade Plan for Positional Trade ,Bulls will get active above 51488 for a move towards 51716/51944 . Bears will get active below 51260 for a move towards 51033/50805/50577
Traders may watch out for potential intraday reversals at 9:15,9:57,11:12,01:55,02:36 How to Find and Trade Intraday Reversal Times
Bank Nifty July Futures Open Interest Volume stood at 13.3 lakh, with liquidation of 2.7 lakh contracts. Additionally, the increase in Cost of Carry implies that there was a closure of SHORT positions today.
Bank Nifty Advance Decline Ratio at 03:09 and Bank Nifty Rollover Cost is @52158 closed above it.
Bank Nifty Gann Monthly Trade level :52351 closed below it.
Bank Nifty closed below 20 SMA @52432 Trend is Sell on Rise
Trader make Error because of expectation, Our Mind think because pattern has emerged its giving us an EDGE on that particular trade and we have no way of knowing it but over a series of trade it will show the effect.
According to the Bank Nifty options chain, the call side has the highest open interest (OI) at the 51500 strike, followed by the 52000 strike. On the put side, the 51000 strike has the highest OI, followed by the 50500 strike.This indicates that market participants anticipate Bank Nifty to stay within the 51000-52000 range.
The Bank Nifty options chain shows that the maximum pain point is at 51300 and the put-call ratio (PCR) is at 0.77 . 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 .
Trader make Error because of expectation, Our Mind think because pattern has emerged its giving us an EDGE on that particular trade and we have no way of knowing it but over a series of trade it will show the effect.
For Positional Traders, The Bank Nifty Futures’ Trend Change Level is At 52439 . 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 51396, Which Acts As An Intraday Trend Change Level.
BANK Nifty Intraday Trading Levels
Buy Above 51400 Tgt 51555, 51729 and 51900 ( BANK Nifty Spot Levels)
Sell Below 51108 Tgt 51000, 50864 and 50653 (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.