Bank Nifty Analysis After US CPI Data

By | September 13, 2022 8:11 pm

As Discussed in Last AnalysisBulls were able to close above 40481 now waiting for 40681/40882/41083. Bears will have chance below 40477 for a move towards 40240/40050/39852.  Till we do not close below Friday Low of 40280 do not short the market. Mercury Retrograde can lead to impulsive move on upside. We might open gap down tommrow tracking global cues but trend remains up till we are holding 40500. Bears will have chance below 40477 for a move towards 40240/40050/39852

Tommrow we have important Bayers Rule “Bayer Rule 2: Trend goes down within 3 days when the speed difference between Mars and Mercury is 59 minutes. Leads to Big Move ” and also Mercury Conjunct Saturn HELIO suggesting first 15 mins High and low will guide for the day.

Intraday time for reversal can be at 9:51/10:33/11:55/12:29/1:28/2:23 How to Find and Trade Intraday Reversal Times

Bank Nifty rollover cost @ 38918  and Rollover @73.2 % Closed above the rollover level suggesting bias is Bearish.

Bank Nifty Sep Future Open Interest Volume is at 21.8 lakh with addition of 0.63 Lakh contract , with increase in Cost of Carry suggesting  long positions were closed today.

As per Musical Octave 40518 is Pivot Above it rally towards 41724 Below it 39381 .

Maximum Call open interest of 38 lakh contracts was seen at 41000 strike, which will act as a crucial resistance level and Maximum PUT open interest of 51 lakh contracts was seen at 40000 strike, which will act as a crucial Support level

MAX Pain is at 40700 and PCR @1.01 . PCR below 0.95 and above 1.3 lead to trending moves, and in between leads to range bound markets.

Your risk-adjusted return is more important than your gross P&L. You shouldn’t try to make 5K a day by losing 5K. You shouldn’t do this after 10 years and you certainly shouldn’t do this when you start.

For Positional Traders Trend Change Level is 39780 on Futures 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 40886 will act as a Intraday Trend Change Level.

Intraday Trading Levels

Buy Above 40800 Tgt 40953, 41040 and 41225 (Bank Nifty Spot Levels)

Sell Below 40525 Tgt 40400, 40225 and 40000 (Bank Nifty Spot Levels)

As always I wish you maximum health and trading success

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