Mercury Trine North Node Aspect Leads to Fall in Bank Nifty

By | December 15, 2022 9:49 pm

As discussed in Last Analysis

Bank Nifty continue to march higher and formed an NR7 pattern, we will open slight gap down today, First 15 mins High and low will decide trend for the day as Mercury Trine North Node, North Node brings volatlity in the market so today we might see some volatile move. Use Swing and Intraday Level as mentioned.

As Discussed first 15 mins low was broken and bank nifty had a decent fall, North Node showed its impact.Bank Nifty has strong support in range of 43144-43185, if tommrow we open gap down look for this range for support.

 Swing Plan  Bulls need to move above 43521 for a move towards 43731/43941/44151 . Bears will get active below 43311 for a move towards 43101/42891/42680.

Intraday time for reversal can be at 10:51/11:41/12:49/1:53/2:20  How to Find and Trade Intraday Reversal Times

Bank Nifty Dec Future Open Interest Volume is at 28 lakh with liquidation of 2.3 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  205 points.

Till Bank Nifty is below 43664 on closing basis  Bears will have upper hand.


Bank Nifty as per musical octave trading path can be  41724-43929-44206  take the side and ride the move !! Corrected from Musical Octave

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 26 lakh contracts was seen at 43000 strike, which will act as a crucial Support level.

MAX Pain is at 43500 and PCR @0.85 . PCR below 0.95 and above 1.3 lead to trending moves, and in between leads to range bound markets.

As the markets ebb and flow from trending to choppy to corrective , trading styles also need to ADJUST IN ORDER TO ONLY KEEP YOUR GAINS but also SURVIVE.

For Positional Traders Trend Change Level is 43550 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 43897 will act as a Intraday Trend Change Level.

Intraday Trading Levels

Buy Above 43400 Tgt 43555, 43729 and 43900 (Bank Nifty Spot Levels)

Sell Below 43211 Tgt 43075, 42924 and 42800 (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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