FII Activity: Bullish Sentiment in Bank Nifty Index Futures
Foreign Institutional Investors (FIIs) demonstrated a bullish stance in the Bank Nifty Index Futures market by buying 1184 contracts worth ₹89 crores. This activity resulted in an increase of 1862 contracts in the net open interest.
Bank Nifty continued its downfall, breaking the Mercury Ingress low of 49,230 and closing below it on Friday. The market witnessed a waterfall decline, bringing the price back to its 1×3 Gann angle support zone.
Astrological Events to Watch Tomorrow:
- Full Moon
- Bayer Rule 3:
“Price tends to rise when the angle between Mars and Mercury is 161 degrees 21 minutes 18 seconds; Mars must be retrograde.” - Mercury Extreme Declination
These events suggest increased volatility, making the first 15 minutes’ high and low critical. Moreover, tomorrow’s high and low will remain valid throughout the week, offering guidance for short-term trades.
Key Levels to Watch:
- For a Short-Term Reversal: The price needs to move above 48,300.
Traders’ Note:
Stay cautious and monitor the first 15 minutes closely to determine the week’s potential trend. Proper risk management is essential, given the heightened volatility expected.
Balancing Aggression and Defensiveness: The Trader’s Guide to Long-Term Success
Bank Nifty witnessed a perfect bounce from the Gann angle, in alignment with the astro cycle discussed earlier. The confluence of Moon, Mercury, and Bayer’s Rule played a key role in this recovery, leading to a strong bounce back in price.
As bulls managed to close above 48,300, there is now potential for a reversal if the price manages to close above 49,000.
Key Levels to Watch:
- For Bulls:
- A close above 49,000 could trigger a quick short-covering rally toward 49,300/49,785.
- For Bears:
- Bears will regain control only if the price falls below 48,300.
Traders’ Note:
Monitor these key levels closely for confirmation of a reversal or continuation of the current trend. Proper risk management remains critical in this volatile environment.
Bank Nifty Trade Plan for Positional Trade ,Bulls will get active above 48777 for a move towards 48992/49211/49430.Bears will get active below 48554 for a move towards 48336/48117/47898.
Traders may watch out for potential intraday reversals at 09:37,11:37,12:57,01:36,02:48 How to Find and Trade Intraday Reversal Times
Bank Nifty December Futures Open Interest Volume stood at 23.9 lakh, with liquidation of 0.93 lakh contracts. Additionally, the increase in Cost of Carry implies that there was a covering of SHORT positions today.
Bank Nifty Advance Decline Ratio at 12:00 and Bank Nifty Rollover Cost is @51689 closed Below it.
Bank Nifty Gann Monthly Trade level :50312 closed below it.
Bank Nifty closed above 377 SMA @48293 ,Trend is Buy on Dips till above 48300.
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 51408-49965-48521-47159. 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 above 48521
According to the Bank Nifty options chain, the call side has the highest open interest (OI) at the 49000 strike, followed by the 49500 strike. On the put side, the 48500 strike has the highest OI, followed by the 48000 strike.This indicates that market participants anticipate Bank Nifty to stay within the 48500-49500 range.
The Bank Nifty options chain shows that the maximum pain point is at 48500 and the put-call ratio (PCR) is at 0.75. 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 .
Mental Toughness is my business. Make it part of yours. Keep a journal. Feed your mind.
For Positional Traders, The Bank Nifty Futures’ Trend Change Level is At 48836. 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 48859, Which Acts As An Intraday Trend Change Level.
BANK Nifty Intraday Trading Levels
Buy Above 48800 Tgt 48950, 49108 and 49225 ( BANK Nifty Spot Levels)
Sell Below 48610 Tgt 48343, 48166 and 48008 (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