Foreign Institutional Investors (FIIs) exhibited a Bearish Stance in the Bank Nifty Index Futures market by Shorting 579 contracts with a total value of 47 crores. This activity led to a decrease of 73707 contracts in the Net Open Interest.
Bank Nifty continued its rally to the upside, showing a red candel after 8 days of rise, and we have the monthly expiry tomorrow. Last month’s expiry was at 51143 , and today we are trading at 53968 — a rally of 2825 points in a single expiry.
Based on the Bayer’s Rule discussed in the video below, we can expect significant movement in the next two trading sessions. Trade cautiously with proper hedging. Strong Reversal only on close below 53729.
Bank Nifty continued with its rise, Price is unable to break 53741 low of Gann natural date and price continue to march on upside. Mercury is moving back in Libra so we can see volatlity and spikes in market. First 15 mins High and Low will guide for the day.
Bank Nifty Trade Plan for Positional Trade ,Bulls will get active above 54189 for a move towards 54419/54649/54880 .Bears will get active below 53958 for a move towards 53728/53498/53267
Traders may watch out for potential intraday reversals at 09:25,11:01,12:43,02:36 How to Find and Trade Intraday Reversal Times
Bank Nifty September Futures Open Interest Volume stood at 18.1 lakh, with addition of 3.6 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 04:08 and Bank Nifty Rollover Cost is @51260 closed above it.
Bank Nifty Gann Monthly Trade level :52751 closed above it.
Bank Nifty closed above its 50 SMA @52068 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 51724-53263-54801. 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 54300 strike, followed by the 54500 strike. On the put side, the 53500 strike has the highest OI, followed by the 53000 strike.This indicates that market participants anticipate Bank Nifty to stay within the 53500 -54500 range.
The Bank Nifty options chain shows that the maximum pain point is at 54000 and the put-call ratio (PCR) is at 1.12 . 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 .
During this phase of the rule-finding and the clean implementation of your Trading system you are faced with mental conflicts. That’s the hardest part of the Trading education to resolve “Mental Conflicts”.
For Positional Traders, The Bank Nifty Futures’ Trend Change Level is At 54298. 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 54298 , Which Acts As An Intraday Trend Change Level.
Bank Nifty Intraday Trading Levels
Buy Above 54125 Tgt 54225, 54360 and 54555 ( Bank Nifty Spot Levels)
Sell Below 54000 Tgt 53882, 53729 and 53600 (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.