FIIs Maintain Bullish Stance in Bank Nifty Futures – May 14, 2024
Foreign Institutional Investors (FIIs) continued to reflect a bullish bias in the Bank Nifty Index Futures segment by buying 930 contracts worth ₹153 crore. Importantly, this activity was accompanied by a net open interest (OI) increase of 1,076 contracts, indicating fresh long positions being built rather than just short covering.
Breakdown & Implications:
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✔ Contracts Bought: 930
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✔ Notional Value: ₹153 crore
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Net OI Change: +1,076 contracts
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Interpretation:
FIIs are steadily accumulating long positions, aligning with the broader bullish structure in Bank Nifty. This suggests continued confidence in financials, possibly in response to:-
Strong index performance
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Falling inflation data
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Stable policy backdrop
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NIFTY Options Analysis: 15 May 2025 Nifty Weekly Expiry Levels
Bank Nifty witnessed a mild decline today after Monday’s powerful rally. The index retraced approximately 25% of the previous session’s gains, indicating a running correction — a healthy pause within an ongoing uptrend.
Price action has settled right around the psychological level of 55,000, while critically respecting the Gann support level of 54,872.
Key Technical Insight:
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Gann Support Level: 54,872
→ Holding above this zone keeps the bullish structure intact. -
Correction Type: Running correction
→ Typically followed by continuation in the prevailing trend (in this case, up).
Macro Boost – Inflation Data:
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India’s Retail Inflation Drops to 3.16% (6-Year Low)
→ Eases pressure on the RBI, raising expectations of liquidity stability and maintaining a favorable backdrop for banks.
→ Sentimentally positive for Bank Nifty and interest-rate sensitive sectors.
Bank Nifty extended its decline in today’s session, retracing 50% of Monday’s sharp rally. According to Gann analysis, the 50% retracement level is often a decisive trend reversal zone, and today’s price action validated this principle.
The index found strong intraday support at 54,491, which:
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Coincides closely with the previous swing high of 54,467
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Aligns with the Gann retracement zone, creating a powerful price-time confluence
This dual support triggered a swift recovery, indicating that buyers are active on dips, especially around technical inflection points.
Key Technical Levels to Watch:
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✅ Support Held: 54,491
(Also previous breakout level at 54,467) -
Immediate Resistance: 54,872
(Gann level and intraday pivot) -
Breakout Target: 55,500
(Short-term bullish confirmation above 54,872)
Market Implication:
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Holding 54,467–54,491 affirms buyer interest on pullbacks and keeps the bullish structure intact.
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A close above 54,872 will likely invite momentum buying, with a possible rally extension toward the 55,500 zone.
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A failure to break above 54,872 may keep the index in a sideways-to-negative bias in the short term.
Bank Nifty Trade Plan for Positional Trade ,Bulls will get active above 54948 for a move towards 55417/55889. Bears will get active below 54480 for a move towards 54014/53550.
Traders may watch out for potential intraday reversals at 10:45,11:49,12:33,01:43,02:11,02:38 How to Find and Trade Intraday Reversal Times
Bank Nifty May Futures Open Interest Volume stood at 17.6 lakh, with liquidation of 0.06 lakh contracts. Additionally, the Increase in Cost of Carry implies that there was a closure of LONG positions today.
Bank Nifty Advance Decline Ratio at 07:05 and Bank Nifty Rollover Cost is @55480 closed below it.
Bank Nifty Gann Monthly Trade level :54467 closed above it.
Bank Nifty closed ABOVE its 20 SMA @54694,Trend is Buy on Dips till above 54700
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 53548-55141-56734. 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 55000 strike, followed by the 55500 strike. On the put side, the 54500 strike has the highest OI, followed by the 54000 strike.This indicates that market participants anticipate Bank Nifty to stay within the 54500-55500 range.
The Bank Nifty options chain shows that the maximum pain point is at 54900 and the put-call ratio (PCR) is at 0.82 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 .
Those who succeed big at anything all have the same attitude: You keep going until it happens or you die trying. Quitting is not an option.
For Positional Traders, The Bank Nifty Futures’ Trend Change Level is At 55013. 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 54908 , Which Acts As An Intraday Trend Change Level.
BANK Nifty Intraday Trading Levels
Buy Above 54850 Tgt 55000, 55176 and 55400 (BANK Nifty Spot Levels)
Sell Below 54729 Tgt 54580, 54344 and 54196 (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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