As disussed in Last Analysis 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. We have seen 422 points fall in bank nifty and just 17 points fall in Nifty reason for that was Jupiter plannet JUpiter in ruling plannet of bank nifty so it will create more impact on Bank Nifty and lead to outperformance. Bank Nifty did 3 target on downside and got whipsawed on upisde. Now today we have very important gann emblem date 18 Feb and also near gann angle resistance suggesting potential Price time squaring, we have Sun Ingress today which shows big impact on Bank Nifty as Both Astro and Gann date are meeting suggesting we can see a potential reversal in market. Watch for first 15 mins High and Low and take trade accordingly. Swing Shorts below 37343 can see fall towards 37148/37148/38953. Long above 37538 can see rally back to 37734/37929/38124.
Intraday time for reversal can be at 10:01/11:04/12:05/1:36/2:16 How to Find and Trade Intraday Reversal Times
Bank Nifty Feb Future Open Interest Volume is at 18.5 lakh with liquidation of 0.17 Lakh contract , with decrease in Cost of Carry suggesting SHORT positions were closed today.
MAX Pain is at 38000 and PCR @1.08 Rollover cost @37516 closed above it.
When both Astro and Gann date combine its lead to big trending move on one side so be cautious in your trading positions.
F&O Traders last 3 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 37000 and reasonable resistance at 38000.There is total OI of 3.52 Cores on the Call side and 4.26 Cores on the Put side, So, the activity is more on the PUT side, indicating option writers are in BULLISH zone.
For Positional Traders Trend Change Level is 38321 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 37717 will act as a Intraday Trend Change Level.
Buy Above 37538 Tgt 37636, 37777 and 37920 (Bank Nifty Spot Levels)