FII Activity: Bearish Sentiment in Bank Nifty Index Futures
Foreign Institutional Investors (FIIs) demonstrated a bearish stance in the Bank Nifty Index Futures market by shorting 3080 contracts worth ₹228 crores. This activity resulted in an increase of 3110 contracts in the net open interest.
Bank Nifty continued its decline after breaking the Mars Ingress low at 49,751, resulting in a 400+ point drop. Yesterday’s Mercury in Capricorn alignment indicated the emergence of a fresh trend, making yesterday’s low of 49,389 the new critical level for bears to break. On the other hand, bulls need to push the price above 50,246 for any upside momentum to materialize.
Key Astro Event Today:
We have Rule No. 38 – Mercury Latitude Heliocentric, which states:
“Some mighty fine tops and bottoms are produced when Mercury, in this motion, passes the mentioned degrees.”
The first 15 minutes’ high and low will be critical in determining today’s trend.
Additional Market Insight:
- TCS will kick off the result season today, which is expected to introduce volatility.
- TCS results will be announced after market hours, so traders should prepare for potential overnight impacts.
The Mental Side: The Key to Success in Stock Market Trading
Bank Nifty continued its decline, making a new low below the Mercury Ingress low of 49,390, but failed to close below this level. Historically, we have observed that when the price closes above an Astro date low, it often leads to a strong counter-trend rally.
Key Levels to Watch for Tomorrow’s Weekly Close:
- For Bulls: A close above the 49,729-49,800 range will be crucial to build momentum for a counter-trend rally.
- For Bears: A close below 49,389 will confirm continued bearish strength.
Traders should remain cautious and monitor these levels closely, as the weekly close will set the tone for the upcoming sessions.
Bank Nifty Trade Plan for Positional Trade ,Bulls will get active above 49549 for a move towards 49773/50000/50223.Bears will get active below 49324 for a move towards 49100/48875
Traders may watch out for potential intraday reversals at 09:40,11:25,01:25,02:50 How to Find and Trade Intraday Reversal Times
Bank Nifty December Futures Open Interest Volume stood at 24.1 lakh, with addition of 0.68 lakh contracts. Additionally, the increase in Cost of Carry implies that there was a addition of SHORT positions today.
Bank Nifty Advance Decline Ratio at 03:09 and Bank Nifty Rollover Cost is @51689 closed above it.
Bank Nifty Gann Monthly Trade level :50312 closed below it.
Bank Nifty closed below 233 SMA @50143,Trend is Sell on Rise till close below 50312.
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 51408-49965-48521. 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.– Price has closed below 49965
According to the Bank Nifty options chain, the call side has the highest open interest (OI) at the 50000 strike, followed by the 50500 strike. On the put side, the 49500 strike has the highest OI, followed by the 49000 strike.This indicates that market participants anticipate Bank Nifty to stay within the 49500-50500 range.
The Bank Nifty options chain shows that the maximum pain point is at 50000 and the put-call ratio (PCR) is at 0.62. 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 .
The central theme in stock market trading are feelings, especially fears.
For Positional Traders, The Bank Nifty Futures’ Trend Change Level is At 51067. 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 49707, Which Acts As An Intraday Trend Change Level.
BANK Nifty Intraday Trading Levels
Buy Above 49555 Tgt 49729, 49920 and 50108 ( BANK Nifty Spot Levels)
Sell Below 49444 Tgt 49313, 49196 and 49040 (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.
► Join Youtube channel : Click here
► Check out Gann Course Details: W.D. Gann Trading Strategies
► Check out Financial Astrology Course Details: Trading Using Financial Astrology
► Check out Gann Astro Indicators Details: Gann Astro Indicators