Bank Nifty Monthly Expiry Trade Plan for October 30, 2024

By | October 29, 2024 10:30 pm

Foreign Institutional Investors (FIIs) exhibited a Bullish Stance in the Bank Nifty Index Futures market by Buying 10661 contracts with a total value of 830 crores. This activity led to a decrease of 7511 contracts in the Net Open Interest.

As Discuused in Last Analysis

Bank Nifty saw a reversal in line with Bayer Rule 9, which indicates that significant market changes occur when Mercury passes over 19 degrees 36 minutes of Scorpio and Sagittarius, as well as 24 degrees 14 minutes of Capricorn and Gann cycle date, as discussed in the video below.

Today, bulls need to close above the 51500–51550 range and maintain support at 51000 during intraday volatility. For confirmation of a short-term bottom, the price needs to Hold above the 1×2 Gann line. With today’s Moon Declination, the first 15 minutes’ high and low should guide the day’s trend.

Following my theory, equity buying or selling typically aligns with the FnO cycle. FIIs often first take long positions in FnO, then start buying equities to drive a rally, eventually unwinding their FnO longs. FIIs have recently started buying in both stock and index futures, suggesting that cash market selling could ease soon.

Bank Nifty saw a strong rise today after confluence of gann angle and gann and astro time cycle as discussed in below video, closing at the highest point of the day. Now, bulls need a close above 52320-52450 to trigger a rally toward last month’s open at 52844 in the next two trading sessions. Tomorrow, we have Bayer Rule 7: Market changes are likely when Venus or Mars reaches its Aphelion or Perihelion (Geocentric). Watch the first 15 minutes’ high and low to capture the day’s trend.

 

Bank Nifty Trade Plan for Positional Trade ,Bulls will get active above 52411 for a move towards 52637/52864/53090.Bears will get active below 52184 for a move towards 51958/51731/51505

Traders may watch out for potential intraday reversals at 09:56,10:44,1:26,02:51  How to Find and Trade Intraday Reversal Times

Bank Nifty September Futures Open Interest Volume stood at 13.7 lakh, with liquidation of 5 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 10:02 and Bank  Nifty Rollover Cost is @54325 closed below it.

Bank Nifty Gann Monthly  Trade level :51820 closed above it.

Bank Nifty closed above its 100 SMA @51391 Trend is Buy on Dips  till above 51820

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 48819-50271-51724-53263-54801. 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 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 52000-53000 range. 

The Bank Nifty options chain shows that the maximum pain point is at 52300 and the put-call ratio (PCR) is at 0.90 . 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 .

Trading needs Concentration and preparation. If you do it spontaneously, you will likely to be unsuccessful.4

For Positional Traders, The Bank Nifty Futures’ Trend Change Level is At 52285. 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 51864, Which Acts As An Intraday Trend Change Level.

BANK Nifty Expiry Range

Upper End of Expiry : 52717

Lower End of Expiry : 51922

BANK Nifty Intraday Trading Levels

Buy Above 52411 Tgt 52555, 52729 and 52920 ( BANK Nifty Spot Levels)

Sell Below 52150 Tgt 51984, 51816 and 51729 (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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