Foreign Institutional Investors (FIIs) exhibited a Bearish Stance in the Bank Nifty Index Futures market by Shorting 18940 contracts with a total value of 1491 crores. This activity led to a decrease of 21349 contracts in the Net Open Interest.
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.
May the blessings of Goddess Lakshmi shine upon you and your family this Diwali. Wishing you love, light, and joy! May the gleaming diyas of Diwali illuminate your life, bringing a year full of joy, success, and good health. May this Diwali bring you endless moments of joy, love, and success.
Bank Nifty formed an inside bar and saw a pullback after a 1,000-point rise yesterday. Bayer’s Rule worked again as the price did not breach the 15-minute high, and dropping below the low led to a decent pullback. The price remains above its Gann angle and Monday’s high. Bulls need a close above the 51,820–51,900 range to target the 52,320–52,450 range. Below 51,400, bears will gain the upper hand. Volatile moves are likely to continue within this range.
Bank Nifty Trade Plan for Positional Trade ,Bulls will get active above 51958 for a move towards 52184/52411/52637.Bears will get active below 51731 for a move towards 51505/51278
Traders may watch out for potential intraday reversals at 09:52,11:24,1:33,02:52 How to Find and Trade Intraday Reversal Times
Bank Nifty November Futures Open Interest Volume stood at 22.7 lakh, with addition of 6.9 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 @51830closed below it.
Bank Nifty Gann Monthly Trade level :51820 closed above it.
Bank Nifty closed above its 100 SMA @51414 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 52000 strike, followed by the 52500 strike. On the put side, the 51500 strike has the highest OI, followed by the 5100 strike.This indicates that market participants anticipate Bank Nifty to stay within the 51500-52500 range.
The Bank Nifty options chain shows that the maximum pain point is at 52000 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 52600. 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 52334, Which Acts As An Intraday Trend Change Level.
BANK Nifty Intraday Trading Levels
Buy Above 51864 Tgt 52000, 52166 and 52385 ( BANK Nifty Spot Levels)
Sell Below 51777 Tgt 51610, 51424 and 51323 (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.