FII Activity – Bank Nifty Index Futures
FIIs Maintain Bullish Stance – Modest buying in Bank Nifty Futures signals cautious optimism.
FIIs Bought: 671 contracts worth ₹103 crore.
Net Open Interest (OI): Increased by 2,979 contracts → Indicates fresh long buildup.
Market Interpretation:
✅ OI increase with buying suggests FIIs are adding fresh positions.
⚠️ Cautious approach advised as FIIs’ buying volume remains limited.
Top 100 Trading Blogs: FeedSpot Honors Bramesh’s Technical Analysis
As Discussed in Last Analysis
Trump’s Retaliatory Tariffs Take Effect → Could weigh on global equities, especially trade-sensitive sectors.
US Bond Yields Falling → Signals risk-off sentiment but could support emerging markets.
Dollar Index Weakening → Generally positive for EMs, limiting the downside impact on India.
Astro Analysis: Mercury at 0° Declination – A Key Market Turning Point
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Declination determines how high a planet rises or sets in the sky, influencing market cycles.
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When Mercury reaches 0° declination, it aligns with the celestial equator, often marking trend shifts or volatility spikes.
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Historically, major reversals or sharp directional moves have occurred around such planetary alignments.
Key Technical Levels for Bank Nifty
Support & Potential Reversal Zone
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50,729 – 50,800 → If Bank Nifty holds this zone, expect a sharp recovery with upside targets at 51,250 / 51,500.
Breakdown Levels & Bearish Targets
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Below 50,500 → Bears could take control, dragging prices toward 50,000 / 49,785 (Gann Support).
Intraday Trading Strategy
Watch the First 15-Minute High & Low → This will set the intraday trend direction.
Volatility Expected in First Half → Due to astro alignment & global uncertainty.
Astro & macro factors align for a high-volatility session. Stay cautious, hedge positions, and avoid excessive leverage.
Bank Nifty broke its first 15-minute high and rallied strongly, closing near the day’s high as Mercury Declination showed its Imapct.
Trump’s tariffs had minimal impact on Indian markets due to a decline in US bond yields and weakness in the Dollar Index.
Astro Events Ahead – The next few days will see multiple astrological influences, so traders should proceed with caution.
Key Levels for Weekly Close (April 4, 2024)
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Bears’ Target : 51000–51200 → If they manage to push prices lower, we could see selling pressure.
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Bulls’ Target : 51700–51750 → A close above this range could signal further upside momentum.
Bank Nifty Trade Plan for Positional Trade ,Bulls will get active above 50774 for a move towards 51001/51229 Bears will get active below 50547 for a move towards 50319/50092
Traders may watch out for potential intraday reversals at 10:10,11:24,12:15,01:15,02:09How to Find and Trade Intraday Reversal Times
Bank Nifty April Futures Open Interest Volume stood at 23.3 lakh, with addition of 1.3 lakh contracts. Additionally, the Increase in Cost of Carry implies that there was a addition of LONG positions today.
Bank Nifty Advance Decline Ratio at 09:03 and Bank Nifty Rollover Cost is @52173 closed above it.
Bank Nifty Gann Monthly Trade level :48414 closed above it.
Bank Nifty closed above 200 SMA @51023 ,Trend is Buy on Dips till above 51000
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 50541-52044-53548. 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 51500 strike, followed by the 52000 strike. On the put side, the 51000 strike has the highest OI, followed by the 50500 strike.This indicates that market participants anticipate Bank Nifty to stay within the 51000-52000 range.
The Bank Nifty options chain shows that the maximum pain point is at 51500 and the put-call ratio (PCR) is at 1.06 . 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 .
It’s not just putting in the hours that will make you successful; it’s the persistent intention to improve by examining your results, tweaking your approach, and making incremental progress.
For Positional Traders, The Bank Nifty Futures’ Trend Change Level is At 51084. 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 51639, Which Acts As An Intraday Trend Change Level.
Intraday Levels for Bank Nifty:
Buy Above 51600 Tgt 51729, 51920 and 52050 ( Bank Nifty Spot Levels)
Sell Below 51490 Tgt 51343, 51200 and 51050 (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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