The Jupiter Effect on Bank Nifty

By | December 20, 2022 7:36 am

As discussed in Last Analysis

Bank Nifty has fallen for 3 days in a row and 1072 points in total, price has just stopped at 20 DMA, and we have important astro/gann date coming on 19-20 Dec so trade cautiously as next week we will see atleast 1000 points move in Bank Nifty.

We have Jupiter Ingress today as discussed in below video price has taken support at gann angle and today we have important gann date also so we should see good move in next 2 trading session.

 Swing Plan  Bulls need to move above 43311 for a move towards 43521/43731/43941 . Bears will get active below 43101 for a move towards 42891/42680/42470 — Bulls were able to close above 43311 now waiting for 43521/43731/43941.

 

Intraday time for reversal can be at 9:20/11:35/12:43/1:35/1:55 How to Find and Trade Intraday Reversal Times

Bank Nifty Dec Future Open Interest Volume is at 27.8 lakh with addition of 2.1 Lakh contract , with decrease in Cost of Carry suggesting Long positions were added today.

Bank Nifty Rollover cost @42828 and Rollover % @81.3 Closed above it, Bank NIfty Future is in premium has reduced towards  67 points.

Till Bank Nifty is below 43502 on closing basis  Bears will have upper hand.

 

Bank Nifty as per musical octave trading path can be  41967-439216-44464  take the side and ride the move !! Corrected from Musical Octave

Maximum Call open interest of 30 lakh contracts was seen at 44000 strike, which will act as a crucial resistance level and Maximum PUT open interest of 36 lakh contracts was seen at 43000 strike, which will act as a crucial Support level.

MAX Pain is at 43500 and PCR @0.99 . PCR below 0.95 and above 1.3 lead to trending moves, and in between leads to range bound markets.

If you work hard and approach trading intelligently, you deserve success. But it takes persistence and the right mental attitude.

For Positional Traders Trend Change Level is 43533 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 43437 will act as a Intraday Trend Change Level.

Intraday Trading Levels

Buy Above 43456 Tgt 43540, 43666 and 43881 (Bank Nifty Spot Levels)

Sell Below 43369 Tgt 43280, 43198 and 42984 (Bank Nifty Spot Levels)

As always I wish you maximum health and trading success

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