Venus Retrograde leads to Crash in Bank Nifty, How to Trade Now ?

As Discussed in Last Analysis Astro event happening on Weekend , 1. RULE NO. 38 MERCURY LATITUDE HELIOCENTRIC Some mighty fine tops and bottoms are produced when Mercury in this motion passes the above mentioned degrees 0, 3*21,6*42, and 7*0’” 2. Venus Retrograde 3. Chiron Ingres 4. Full Moon 5. Moon at Apogee so time to be cautious on short as 5 Astro event happening can lead to strong reversal once price confirmation happens. Bulls need to move above 35729 for a move towards 35912/36100/36289/36477. Bears below 35403 for a move towards 35212/34908. We had a simple rule 15 mins High and Low as it was important astro date as multiple astro events were lined up and we got rewarded. Also we saw the power of Venus Retrograde, Now we are back to gann angle support and Sun Moving in Capricon and also yesarly gann cycle on 21 Dec. Check last week 21 Dec we made a bottom and rallied. Bulls need to move above 34760 for a move towards 35134/35510. Bears will get active towards 34418 for a move towards 34048/33680.

Intraday time for reversal can be at 9:15/10:58/12/1:58/2:34 How to Find and Trade Intraday Reversal Times

Bank Nifty Nov Future Open Interest Volume is at 25.5 lakh with liquidation of 0.56 Lakh contract , with decrease in Cost of Carry suggesting SHORT positions were closed today.

MAX Pain is at 35000 and PCR @ 0.91, Bulls caught on wrong foot saw a big change in Max Pain.

The option table is undergoing a real transformation – with each day one CE level is targeted with huge volumes of writing and the strike is giving way to much lower strikes.Talking about supports and resistance based on OI at this stage is not quite relevant because, with the kind of mayhem going on, no strike is safe

Do not let the extreme volatility fool you. This market is going nowhere – and is completely directionless. Institutions are making good money by writing options on both sides. To illustrate the point – BNF closed @ 35780 on 30th Nov. After 15 days of trading, today BNF has closed at 35749 . A mega fall of 30 points.It looks more like a time correction if you look at big picture. — Finally we got the range breakdown and it was a brutual fall.

I will not be surprised if we do make a short term bottom yesterday, and do a green rush for the rest of the month to facilitate the yearly closing of NAV’s for FII’s. As it is, such long time projections are useless and in fact injurious to your trading account. So, stay in present, and try to play this rough week as expected. We can take things as they come.

For Positional Traders Trend Change Level is 36608 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 34553 will act as a Intraday Trend Change Level.

Buy Above 34756 Tgt 34940, 35125 and 35309 (Bank Nifty Spot Levels)