Bank Nifty Analysis as Multiple Astro date Confluence

By | November 21, 2022 9:01 pm

Another low volume day in Bank Nifty. “Bayer Rule 15: VENUS HELIOCENTRIC LATITUDE AT EXTREME AND LEAST SPEEDS FOR MAJOR MOVES Imp Rule”should add mometum.

For Swing Trade Bulls need to move above 42408 for a move towards 42613/42818/43024 . Bears will get active below 42209 for a move towards 42003/41796/41590. 

Intraday time for reversal can be at 10:51/11:39/12:32/1:58/2:29How to Find and Trade Intraday Reversal Times

Bank Nifty Nov Future Open Interest Volume is at 21.4 lakh with liquidation of 1.7 Lakh contract , with increase in Cost of Carry suggesting Long positions were closed today.

Till Bank Nifty is above 42300 on closing basis  Bulls will have upper hand.

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 32 lakh contracts was seen at 43000 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 42500 and PCR @0.92 . PCR below 0.95 and above 1.3 lead to trending moves, and in between leads to range bound markets.

Most of traders will see last few candles IE. MOST RECENT MARKET ACTION and try to make prediction /judgment of future  based on limited information THIS IS INTUTIVE MIND APPROACH.

For Positional Traders Trend Change Level is 41817 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 42321 will act as a Intraday Trend Change Level.

Intraday Trading Levels

Buy Above 42400 Tgt 42496, 42605 and 42729  (Bank Nifty Spot Levels)

Sell Below 42300 Tgt 42125, 42052 and 41900 (Bank Nifty Spot Levels)

As always I wish you maximum health and trading success

Leave a Reply