Trade Plan for Bank Nifty on January 29, 2025: Key Levels & Market Outlook

By | January 29, 2025 9:29 am

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 6451 contracts worth ₹340 crores. This activity resulted in an increase of 1815 contracts in the net open interest.

As Discussed in Last Analysis

The Bank Nifty bulls failed to decisively breach the 48,600–48,680 resistance range, while the bears were unable to push the index below the 48,500 support zone. This has left the Bank Nifty in a neutral zone, with a major move expected either today or on Monday.

Key Astrological Event:

The upcoming Bayer Rule 9 comes into play:
“Big changes in the market are observed when Mercury passes over 19 degrees 36 minutes of Scorpio and Sagittarius, as well as over 24 degrees 14 minutes of Capricorn.”

This alignment could trigger a significant directional move in the Bank Nifty.

What to Watch:

  • For Bulls: A move above 48,680 will open the path toward 49000/49,225/49,500.
  • For Bears: A breakdown below 48,500 could drag the index toward 48,225/48,000.

Traders’ Note:

Stay alert for a potential breakout or breakdown, as the confluence of technical and astrological factors suggests heightened market activity in the coming sessions.

Bank Nifty experienced a decent upmove as JUpiter Declination hsowed its impact as discussed on Weekend video shared below

Today, with the New Moon and Uranus Declination, Reliance and IT stocks should be on the radar.

Key Levels to Watch:

  • Bullish Scenario: Nifty needs to close above 49000 to confirm a short-term bottom, potentially triggering rapid short covering toward 49400-49666
  • Bearish Scenario: A break below 48666 could lead to a decline toward 48444/48222

Bank Nifty Trade Plan for Positional Trade ,Bulls will get active above 48992 for a move towards 49211/49430.Bears will get active below 48800 for a move towards 48666/48444.

Traders may watch out for potential intraday reversals at 09:38,11:35,12:16,02:05 How to Find and Trade Intraday Reversal Times

Bank Nifty December Futures Open Interest Volume stood at 23.1 lakh, with addition of 0.14 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 10:02 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 49000 and the put-call ratio (PCR) is at 0.88. 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 49000. 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 48771 , Which Acts As An Intraday Trend Change Level.

BANK Nifty Intraday Trading Levels

Buy Above 49065 Tgt 49188, 49300 and 49444 ( BANK Nifty Spot Levels)

Sell Below 48900 Tgt 48785, 48666 and 48512 (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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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

Category: Bank Nifty Bank Nifty Astrology

About Bramesh

Bramesh Bhandari has been actively trading the Indian Stock Markets since over 15+ Years. His primary strategies are his interpretations and applications of Gann And Astro Methodologies developed over the past decade.

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