Bank Nifty Analysis as Venus goes Ingress

By | December 10, 2022 9:52 pm

As discussed in Last Analysis

Bayer Rule 3: Price goes up when the angle between Mars and Mercury is 161 degrees 21 minutes 18 seconds; Mars must be retrograde. “Bayer Rule 14: VENUS MOVEMENTS IN GEOCENTRIC LONGITUDE USING A UNIT OF 1*9’13”” “RULE NO. 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’” will come into effect. Aviod carrying overnight position without Hedge today US CPI data so we will see gap up or gapdown on Monday.

Venus Ingress is happening today, Venus is one of the closest planets to Earth, meaning that its Astro Events are more powerful and intense than other planets. 

Bank NIfty is on 10 week winning streak and forming higher high, As Monday we have important time cycle date so first 15 mins High and low will guide intraday traders.

Fresh Swing Plan Bulls need to move above 43708 for a move towards 43915/44122/44329 . Bears will get active below 43501 for a move towards 43294/43087/42880.

Intraday time for reversal can be at 10:45/11:41/12:10/1:50/2:40  How to Find and Trade Intraday Reversal Times

Bank Nifty Dec Future Open Interest Volume is at 27.1 lakh with liquiadation of 2.38 Lakh contract , with increase in Cost of Carry suggesting Long positions were clsoed today.

Bank Nifty Rollover cost @42828 and Rollover % @81.3 Closed above it, Bank NIfty Future is in premium has reduced towards  205 points.

Till Bank Nifty is above 43264 on closing basis  Bulls will have upper hand.

 

Bank Nifty as per musical octave trading path can be  41724-43929-44206  take the side and ride the move !! Multiple SUpport taken at 43929 and bounceback.

Maximum Call open interest of 20 lakh contracts was seen at 44000 strike, which will act as a crucial resistance level and Maximum PUT open interest of 16 lakh contracts was seen at 43000 strike, which will act as a crucial Support level.

MAX Pain is at 43600 and PCR @0.98 . PCR below 0.95 and above 1.3 lead to trending moves, and in between leads to range bound markets.

If a trader can take charge of his mind and quell the inner dialogue that creates all sorts of contradictions, and if he can keep his eyes on the time frame of his trading and focus on principles and techniques, he will stand a better chance of becoming a successful, happy, and confident trader.

For Positional Traders Trend Change Level is 43406 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 43781 will act as a Intraday Trend Change Level.

Intraday Trading Levels

Buy Above 43640 Tgt 43793, 43989 and 44125 (Bank Nifty Spot Levels)

Sell Below 43520  Tgt 43444, 43323 and 43212 (Bank Nifty Spot Levels)

As always I wish you maximum health and trading success

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