Bank Nifty Analysis as Jupiter goes Direct

By | November 22, 2022 8:48 pm

As discussed in Last Analysis

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.

Another sideways day and low volume tommrow Jupiter is going Direct so we can see range expnasion in Bank NIfty.

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.  Close above 42408 waiting for 42613/42818/43024

Intraday time for reversal can be at 10:02/11:43/12:53/1:53/2:25 How to Find and Trade Intraday Reversal Times

Bank Nifty Nov Future Open Interest Volume is at 19.1 lakh with liquidation of 2.3 Lakh contract , with increase in Cost of Carry suggesting Long positions were closed today.

Till Bank Nifty is above 42345 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 42 lakh contracts was seen at 43000 strike, which will act as a crucial resistance level and Maximum PUT open interest of 44 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 The Money You Will Earn Trading Will Be Easy Money. You Will See Something On Your Screen That Signals A Great Trading Opportunity For You And You Will Pounce. But These Great Opportunities Present Themselves Only Because You Have Watched Your Stock(S) And Gathered Valuable Information

For Positional Traders Trend Change Level is 41914 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 42434 will act as a Intraday Trend Change Level.

Intraday Trading Levels

Buy Above 42500 Tgt 42598, 42699 and 42848 (Bank Nifty Spot Levels)

Sell Below 42323 Tgt 42225, 42108 and 41920 (Bank Nifty Spot Levels)

As always I wish you maximum health and trading success

Category: Bank Nifty

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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