Bank Nifty Analysis for 12 Jan

By | January 11, 2022 10:54 pm
  • As discussed in last analysis  Tommrow as Mars Square Neptune Mars creates lot of volatality in the market so time to be bit cautious. Bulls need to move above 38400 for a move towards 38522/38696/38800. Bears will get active below 38920 for a move back to 37754/37580. 3 IT major TCS,Infosys,Wipro will come with results tommrow total weightage of that is around 16% in Index. Bank NIfty will move opposite to what IT Index will move so be cautious in your position on bank nifty as we will see gap up or gap down, Neural shows we might see a fall on 13 Jan, Till  Bulls are holding 38250-38300 range Bulls can see move towards 38522/38696/38800. Bears will get active below 37999 for a move back to 37754/37580.

  • Bank Nifty Jan Future Open Interest Volume is at 23.6 lakh with liquidation of 0.62 Lakh contract , with decrease in Cost of Carry suggesting  LONG positions were closed today.
  • MAX Pain is at 38200 and PCR @ 0.98. Rollover cost @35213 closed above it. 
  • The Option Table data indicates decent support at 38000 and reasonable resistance at 39000.There is total OI of 2.11 Cores on the Call side and 2.29 Cores on the Put side, So, the activity is more on the PUT side, indicating option writers are  in BULLISH zone.
  • Bank Nifty has been up for 9 trading session in a row and 9 is considered very important as part of Gann studies so its time to be cautious on long trade. Revesal will be confirmed when we close below previous day low else we might see time correction in range of 37924-39000
  • 2 Important Bayers Rules are becoming active today and tommorow 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 and Bayer Rule 19: We have tops when Venus in geocentric position passes the conjunction with the Sun. SUN Conju Venus . 37924 on Upside and 37109 on downside break any side will lead to 1000 point move in Bank Nifty. Till 37924 not broken no point in going short, Its Buy on Dip market. Today also made low of 38031 and closes at days high.
  • For Positional Traders Trend Change Level is 37055 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 38451 will act as a Intraday Trend Change Level. 

Buy Above 38512 Tgt 38620, 38799 and 39000 (Bank Nifty Spot Levels)

Sell Below 38380 Tgt 38268,38147 and 38000 (Bank Nifty Spot Levels)

As always I wish you maximum health and trading success

Category: Daily

About Bramesh

Bramesh Bhandari has been actively trading the Indian Stock Markets since over 15+ Years. His primary strategies are his interpretations and applications of Gann And Astro Methodologies developed over the past decade.

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