Bayers Date Impact :Bank Nifty Hits All Time High

By | November 12, 2022 3:04 pm

Bank Nifty just closed above 41353 Mars Reteograde level and also we closed above the TC level.

Bayer Rule 9: Big changes on market are when Mercury passes over 19 degrees 36 minutes of Scorpio and Sagittarius,also over 24 degrees 14 minutes of Capricorn. Expect Good Move in Nifty as this rule becomes active.

MSCI rules will mean HDFC twins (HDFC and HDFC Bank) weight will move to 13% from 5.78%, This is positive for Bank NIfty but on Daily Chart Bank Nifty has formed a DOJI so do not be outright bullish and wait for levels to get triggred.  Till we are holding Friday Low of 41918 Bulls have upper hand.Next week 16-17 Nov are important Astro dates.

For Swing Trade Bulls need to move above 42334 for a move towards 42538/42741/42944. Bears will get active below 41928 for a move towards 41725/41521/41318.

Intraday time for reversal can be at 9:18/9:54/11:21/12:31/2:39   How to Find and Trade Intraday Reversal Times

Bank Nifty Nov Future Open Interest Volume is at 26.5 lakh with addition of 3.7 Lakh contract , with increase in Cost of Carry suggesting Long positions were added today.

Bank Nifty Rollover cost @ 41285 and Rollover is at 76.5 % Closed above it

Bank Nifty as per musical octave trading path can be  40518-41724-42929  take the side and ride the move !!

Maximum Call open interest of 28 lakh contracts was seen at 42500 strike, which will act as a crucial resistance level and Maximum PUT open interest of 32 lakh contracts was seen at 42000 strike, which will act as a crucial Support level.

MAX Pain is at 42300 and PCR @0.84 . PCR below 0.95 and above 1.3 lead to trending moves, and in between leads to range bound markets.

During this phase of the rule-finding and the clean implementation of your Trading system you are faced with mental conflicts. That’s the hardest part of the Trading education to resolve “Mental Conflicts”.

For Positional Traders Trend Change Level is 41598 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 42261 will act as a Intraday Trend Change Level.

Intraday Trading Levels

Buy Above 42150 Tgt 42300, 42444 and 42666 (Bank Nifty Spot Levels)

Sell Below 42050 Tgt 41921, 41729 and 41555 (Bank Nifty Spot Levels)

As always I wish you maximum health and trading success

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