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Resistance Zone: 55,889 (previous swing high)
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Support Zone: 55,349 (last breakdown level)
A move above 55,889 could reignite bullish momentum, while sustained trade below 55,349 may shift control back to bears.
Strategic Takeaway
With a mixed bias in open interest and directional buying, traders should:
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Watch for price confirmation post-policy before taking aggressive trades.
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Consider hedged intraday strategies to manage risk in a volatile environment.
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Stay disciplined, trade light during uncertainty, and prepare for a directional week ahead.
Bank Nifty May Futures Open Interest Volume stood at 19.5 lakh, with liquidation of 0.11 lakh contracts. Additionally, the Increase in Cost of Carry implies that there was a closure of SHORT positions today.
Bank Nifty Advance Decline Ratio at 02:10 and Bank Nifty Rollover Cost is @55480 closed below it.
BANK Nifty Gann Monthly Buy Level : 55941
BANK Nifty Gann Monthly Buy Level : 55254
Bank Nifty closed ABOVE its 20 SMA @55163,Trend is Buy on Dips till above 55200
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 56000 strike, followed by the 56500 strike. On the put side, the 55500 strike has the highest OI, followed by the 55000 strike.This indicates that market participants anticipate Bank Nifty to stay within the 55000-56000 range.
The Bank Nifty options chain shows that the maximum pain point is at 55700 and the put-call ratio (PCR) is at 0.79 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 55957. 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 56032, Which Acts As An Intraday Trend Change Level.
BANK Nifty Intraday Trading Levels
Buy Above 55800Tgt 55980, 56166 and 56323 (BANK Nifty Spot Levels)
Sell Below 55666 Tgt 55555, 55385 and 55127 (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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