Bank Nifty Analysis as Mercury Goes Direct

By | October 1, 2022 9:32 am
Top for the day was made of first 15 mins high and shorts almost got all the target. So astro worked perfectly. Now as we have multiple events today and price is near gann angle and market is oversold near an important event so any positive news can lead to spike in price as we look at FNO Data Longs are around 13% and Shorts are 87%, Shorts at the highest levels at the start of a series, At start of July 2022 series shorts were at 85% and in Aug month bank nifty did an upmove of 5%. Price always follow path of least resistance.
We saw a good rally in bank nifty led by short covering as we have highest shorts, simple techniques lead to capturing big move. Now 03 Oct we have multiples bayers date coming and mercury is also changing direction which can again lead to big move in market. All Bullish target as per Swing trade plan also achived.
Bayer Rule 1: The trend changes when Mercury changes its direction
Bayer Rule . 38 MERCURY LATITUDE HELIOCENTRIC Some mighty fine tops and bottoms are produced when Mercury in this motion passes the above mentioned degrees 0, 3*21,6*42, and 7*0’”
So first 15 mins High and low will guide us for rest of the day.Intraday Ratio indicator can be used to capture the upside and downside levels.
For Swing Traders Bulls will get active above 38546 for a move towards 38739/38933/39225. Bears will get active below 38353 for a move towards 38159/37966/37777.

Intraday time for reversal can be at 9:15/11:28/12:41/1:34/2:54 How to Find and Trade Intraday Reversal Times

Bank Nifty Oct Future Open Interest Volume is at 21.6 lakh with liquidation of 0.30 Lakh contract , with increase in Cost of Carry suggesting long positions were closed today.

Bank NIfty Rollover cost @ 38460 and Rollover is at 76.5 % Closed above it.
Bank NIfty has formed an Outside Bar Pattern Break above 38811 target are 39523/40235/40948/41660. Break of 37386 target are 36674/35961/35249.

Maximum Call open interest of 28 lakh contracts was seen at 39000 strike, which will act as a crucial resistance level and Maximum PUT open interest of 42 lakh contracts was seen at 375000 strike, which will act as a crucial Support level
MAX Pain is at 38500 and PCR @0.80 . PCR below 0.95 and above 1.3 lead to trending moves, and in between leads to range bound markets.

The person with the smallest ego can take losses quickly. Also, the smaller position usually results in a smaller loss. The smaller the amount of pain the ego has to work through, the less time it will take to get it out of the way

For Positional Traders Trend Change Level is 38139 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 38444 will act as a Intraday Trend Change Level.

Intraday Trading Levels

Buy Above 38500 Tgt 38661, 38840 and 39000 (Bank Nifty Spot Levels)

Sell Below 38400 Tgt 38255, 38108 and 37950 (Bank Nifty Spot Levels)

As always I wish you maximum health and trading success

Category: Bank Nifty Bank Nifty Astrology

About Bramesh

Bramesh Bhandari has been actively trading the Indian Stock Markets since over 15+ Years. His primary strategies are his interpretations and applications of Gann And Astro Methodologies developed over the past decade.

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