Bayer Rule 30: The trend changes when Venus in declination passes the extreme declination of the Sun. — Today we will see Impact of Bayers Rule. Yesterday HIgh and Low are important. Price is struggling at gann angle.
We saw a decent fall in bank nifty now tommrow Neptune Turns Direct. Neptune is an outer plannet,This planet can be tricky and must be watched carefully. Price has also broken gann angle level. Also we have imporatnt Mercury Conjuct Venus Helio aspect which is important turning point.
For Swing Trade Bulls need to move above 43306 for a move towards 43515/43739/43920 . Bears will get active below 43097 for a move towards 42889/42680/42472/42263.
Intraday time for reversal can be at 9:32/10:31/11:38/12:47/1:38/2:22 How to Find and Trade Intraday Reversal Times
Bank Nifty Dec Future Open Interest Volume is at 27.1 lakh with liquidation of 0.92 Lakh contract , with decrease in Cost of Carry suggesting Long positions were closed today.
Bank Nifty Rollover cost @42828 and Rollover % @81.3 Closed above it, Bank NIfty Future is in premium has reduced towards 221 points.
Till Bank Nifty is above 43073 on closing basis Bulls will have upper hand.
Maximum Call open interest of 22 lakh contracts was seen at 43500 strike, which will act as a crucial resistance level and Maximum PUT open interest of 24 lakh contracts was seen at 43000 strike, which will act as a crucial Support level.
MAX Pain is at 43300 and PCR @0.91 . PCR below 0.95 and above 1.3 lead to trending moves, and in between leads to range bound markets.
LEARN TO EXECUTE ORDERS QUICKLY. Practice your execution skills daily. Create speed drills for yourself, Being fast and light is an advantage that the intraday trader must learn to exploit. We can go from long to short very quickly and easily.
For Positional Traders Trend Change Level is 43328 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 43290 will act as a Intraday Trend Change Level.