Weekly F&O Expiry:BANK Nifty Analysis

As discussed in last analysis It was a Black Monday with Bank nifty crashing once it broke 37083. Till we are below 37083 bears will rule and fall can extend towards 36437/35937. Astro add lot of energy in market direction as today 15 min low gone and bears had a field day. After Big gap down bulls were able to move above 37083 and gave big relief rally. Today again we will open gap down as US FEED has turned hawkish so bulls need to defend 37505 level for upmove to continue towards 37729/37920/38150. Bears will get active below 37300 for a move towards 37102/36920/36700. Important 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. is in effect today so watch out for first 15 mins High and Low and day trend will be decided.

Intraday time for reversal can be at 9:44/10:1812:21/1:33/2:02/2:43 How to Find and Trade Intraday Reversal Times

Bank Nifty Feb Future Open Interest Volume is at 12.7 lakh with addition of 5 Lakh contract , with increase in Cost of Carry suggesting LONG positions were added today.

The Option Table data indicates decent support at 37000 and reasonable resistance at 38000 .There is total OI of 4.27 Cores on the Call side and 3.69 Cores on the Put side, So, the activity is more on the CALL side, indicating option writers are in BEARISH zone.

We got a big releif rally after sell off. Bank Nifty is looking stronger as compared to Nifty as its also trying to outperrform Nifty IT Index which is taking severe beating. Bank Nifty bulls need to hold 37083 till 31 Jan for bullishness to continue. For today watch out for 37254 in BNF.

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 5 days.

For Positional Traders Trend Change Level is 37591 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 37254 will act as a Intraday Trend Change Level.

Buy Above 37525 Tgt 37666, 37743 and 37920 (Bank Nifty Spot Levels)