Bayer Rule 30: The trend changes when Venus in declination passes the extreme declination of the Sun.
Bayer Rule 7: There are changes on market when Venus or Mars goes over its Aphelium Perihelium (Geocentric).
2 Important Bayer Rules are again coming, We have seen fast fall in market reversal will be fast and swift. Bulls need to move above 41801 for a move towards 42005/42413. Bears will get active below 41610 for a move towards 41404/41999.
Bayers rule showed its impact and Bank Nifty did all target on upside. For Swing Traders Bulls need to move above 42792 for a move towards 42996/43200/43444. Bears will get active below 42385 for a move towards 42181/41977/41773.
Intraday time for reversal can be at 9:32/10:47/12:16/1:56/2:35 How to Find and Trade Intraday Reversal Times
Bank Nifty Jan Future Open Interest Volume is at 11.6 lakh with addition of 4 Lakh contract , with decrease in Cost of Carry suggesting Short positions were closed today.
Bank Nifty Rollover cost @42828 and Rollover % @81.3 Closed below it,
Bank Nifty above 42720 on closing basis can lead to relief rally till 43012.
Maximum Call open interest of 55 lakh contracts was seen at 43000 strike, which will act as a crucial resistance level and Maximum PUT open interest of 55akh contracts was seen at 42000 strike, which will act as a crucial Support level.
MAX Pain is at 42500 and PCR @0.90 . Markets tend be range-bound when PCR OI (Open Interest) ranges between 0.90 and 1.05.
“When you really believe that trading is simply a probability game, concepts like right or wrong or win or lose no longer have the same significance.” – Mark Douglas
For Positional Traders Trend Change Level is 42653 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 42326 will act as a Intraday Trend Change Level.