RBI Policy Bank Nifty Analysis

By | December 7, 2021 10:51 pm
  • As discussed in LAST Analysis On Upside Bulls will get active above 35937 for a move towards 36268/36460/36652.We also have important Bayers Rule becoming active today Bayer Rule 31: The trend changes when Venus in declination reached an extreme beyond 23 degrees 26 minutes 51 seconds, so do not be a blind bear be ready for a positon change once price start trading above 35937. Bayers again helped in capturing the big move and bank nifty has finally close above gann 1×1 line as shown in below chart. Now for swing traders Bulls need to move above 36775 for a move towards 36962/37152/37342/37532. Bears will get active below 36393 for a move towards 36203/36013. Try to trade 30 mins after RBI Policy comes out do not stuck on any one side in volatile session.

  • Bank Nifty 3 time touching its Plannetary Line marked in Blue and we have 2 important aspect involving Jupiter, Mars Square Jupiter and Moon Cojunct Jupiter suggesting break of 36775 can lead to massive short covering in Bank Nifty towards 36962/37152/37342/37532.

  • Bank Nifty Nov Future Open Interest Volume is at 23.6 lakh with liquidation of 2.3 Lakh contract , with increase in Cost of Carry suggesting  SHORT positions were closed  today.
  • MAX Pain is at 36500 massive shift in max pain of 500 points, and PCR is in Bullish zone of 0.86
  • The Option Table data indicates decent support at 36000 and reasonable resistance at 37000.
  • Bank Nifty has close above its 100 DMA today @ 36364 now close above 36450 will give a swing target of 37094. — Waiting for 37094 till we are closing above 36450.
  • For Positional Traders Trend Change Level is 36508 on Futures and go long and short above/below it That will help you stay on the side of Institutions and which has a greater risk-reward ratio. For Intraday Traders 36613 will act as a Intraday Trend Change Level. 

Buy Above 36729 Tgt 36844, 36954 and 37100 (Bank Nifty Spot Levels)

Sell Below 36550 Tgt 36417, 36300 and 36148 (Bank Nifty Spot Levels)

As always I wish you maximum health and trading success

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