As disussed in Last Analysis Bayers date showed there impact we saw a big rally in market. This is how Astrology and Gann ANalysis keep you 1 step ahead. Swing Shorts below 37927 can see fall towards 37684/37441. Long above 38258 can see rally back to 38430/38729/39000/39304. Tommrow we have 3 important aspect which will lead to more volatlity in the market and we have taken exact resistance at 45 Degree Gann angle as shown in below chart.
Moon Opposition Jupiter
Jupiter 60 Uranus — 2 Outer Plannet making aspect will have good bearing on market.
Mercury Square Saturn HELIO
Swing Shorts below 37873 can see fall towards 37677/37481/37285. Long above 38069 can see rally back to 38265/38461/38666.
Intraday time for reversal can be at 9:26/10:59/12:08/1:39/2:20 How to Find and Trade Intraday Reversal Times
Bank Nifty Feb Future Open Interest Volume is at 20.3 lakh with addition of 0.19 Lakh contract , with increase in Cost of Carry suggesting LONG positions were added today.
MAX Pain is at 38000 and PCR @1.08 Rollover cost @37516 closed above it.
It was a complete reversal,A remarkable fall born out of complete bullshness and which changed the complete complexion of the game. We are not out of woods so be ready for volatile move and trade with right position size.
F&O Traders last 2 days have been draining and hectic day and need to be mentally strong to book loss and take new position and make profit out of it. Trading is taxing do lot of physical excercise to get rid of frustration of trading day.
The Option Table data indicates decent support at 37500 and reasonable resistance at 38500.There is total OI of 4.52 Cores on the Call side and 4.21 Cores on the Put side, So, the activity is more on the CALL side, indicating option writers are in BEARISH zone.
For Positional Traders Trend Change Level is 38361 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 38111 will act as a Intraday Trend Change Level.
Buy Above 38112 Tgt 38225, 38362 and 38500 (Bank Nifty Spot Levels)