BANK Nifty Analysis Ready for Relief Rally

As discussed in last analysis We got the explosive move today as combination of Astro and Gann Cycle showed the effect. Now Till Bears are below 38300 fall can extend towards 37870/37672/37475. Bulls have chance above 38264 for a move towards 38461/38658. Bank Nifty is outperforming Nifty, as Saturn Impact is coming on IT shares. Now as we have Jupiter in oppsition with Moon suggesting we can see small trend reversal and relief rally. Bulls need a move above 37980 for a move towards 38173/38367/38561. Bears will have chance below 37785 for a move towards 37591/37424.

Intraday time for reversal can be at 9:15/10:07/11:27/12:44/1:30/2:33 How to Find and Trade Intraday Reversal Times

Bank Nifty Jan Future Open Interest Volume is at 17.7 lakh with liquidation of 1.9 Lakh contract , with increase in Cost of Carry suggesting SHORT positions were closed today.

The Option Table data indicates decent support at 37500 and reasonable resistance at 38500 .There is total OI of 1.63 Cores on the Call side and 1.20 Cores on the Put side, So, the activity is more on the CALL side, indicating option writers are in BEARISH 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. Doji formed still unable to close below previous day low. — Finally Price has closed below Previous day Low suggesting short term top formation and fall can be seen towards 38025/37636 — Low made 38007 before a bounce back Till Bank Nifty is below 38400 Bears have upperhand can push towards 38067/37677.– 37677 done today

On January 18, Uranus,moves direct in the sign of Taurus,ending a five-month retrograde period that began in 20 August 2021. Che In astrology, Uranus is the modern ruler of the most “out-there” also called “Planet of Rebellion”. As Uranus continues its movement through the sign of Taurus, it can bring sudden shifts and events that challenge our collective self-worth, values, and finances. This means: Change is coming.Uranus bring long term trend changes. Last Time Uranus went Retrograde on 20 Aug 2021 Check on Chart of BANK Nifty what happened after 20 Aug 2021. — Seeing Good Selling from last 2 days.

For Positional Traders Trend Change Level is 37647 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 37985 will act as a Intraday Trend Change Level.

Buy Above 37980 Tgt 38076, 38173 and 38270 (Bank Nifty Spot Levels)