As discussed in Last Analysis Plannet Jupiter has saved bank nifty, with ICICI results coming today Bank Nifty is at crucial juncture. Till 39500 is held bank nifty can rally towards 42875. Swing Traders need a close above 40401 for a move towards 40603/40804/41007. Bears wil get active below 40000 for a move back to 39801/39601. Low made was 40508 and we got the big move as per expectation based on our Astro analysis now till bulls are holding 41000-41020 range as today was both gann and astro date rally can get extended towards 42875/43009 in short term. Bears will have chance below 40999 for a move towards 40804/40603/40401. Bulls will get active above 41209 for a move towards 41413/41616.
- Intraday time for reversal can be at 9:30/10:08/11:17/12:30/1:40/2:18 How to Find and Trade Intraday Reversal Times
- Bank Nifty Nov Future Open Interest Volume is at 5.9 lakh with addition of 2 Lakh contract , with increase in Cost of Carry suggesting LONG positions were closed today.
- Today we have 2 important astro event 1. Sun going INgress 2. Bayer Rule 27: Big tops and big major bottoms are when Mercury’s speed in Geocentric longitude is 59 minutes or 1 degree 58 minutes. will also get activated so another big move will be seen in Bank Nifty– Got the big move as per expectation.
- MAX Pain is at 40800 PCR at 0.83
- The Option Table data indicates decent support at 40500 and reasonable resistance at 42000
- For Positional Traders Stay long till we are holding Trend Change Level 39869 and stay short below it. That will help you stay on the side of Institutions and which has a greater risk-reward ratio. For Intraday Traders 40362 will act as a Intraday Trend Change Level.