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.
Price saw a similar Price action like last year as both Gann and Astro Date confluenced correction in first half and full recvery in 2 half, Today if price move above 43456-43484 than late shorts which entered yesterday could lead to big short covering. Jupiter has important role to play in Banking and like discuused in below video its leads to big move. Also price has taken support at gann angle for 2 days in row. Also we have Gann Rule In a highly uptrending market weekly low is achieved on Tuesday.
Today we have following Astro Events
- Sun Ingress
- Jupiter Square Sun
- Mercury at Greatest Elong: 20.1°E
- Bayer Rule 27: Big tops and big major bottoms are when Mercury’s speed in Geocentric longitude is 59 minutes or 1 degree 58 minutes
First 15 mins High and Low will guide for the day for Intraday Traders.
Bank Nifty Dec Future Open Interest Volume is at 25.1 lakh with liquidation of 2.6 Lakh contract , with decrease in Cost of Carry suggesting Short 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.
Maximum Call open interest of 35 lakh contracts was seen at 44000 strike, which will act as a crucial resistance level and Maximum PUT open interest of 50 lakh contracts was seen at 43000 strike, which will act as a crucial Support level.
MAX Pain is at 43500 and PCR @0.90 . Markets tend be range-bound when PCR OI (Open Interest) ranges between 0.90 and 1.05. PCR OI closed today at 0.90 as Bank Nifty bounced back from 43000 levels.
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For Positional Traders Trend Change Level is 43519 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 43266 will act as a Intraday Trend Change Level.