We have seen impact of Mercury Retrograde and Bayers Rule as discussed in below video, price has also bounced from Gann angle as shown in below chart. We have Weekly/Monthly/Quaterly/Yearly closing tommrow, Price need to close above 43512-43614 range for a Bullish start for 2023.
Wishing you all a Very Happy and Prosperous New Year
Bank Nifty Bulls again failed to close above 20 SMA and Mercury Retrograde High, Now Again we have Bayer Rule coming on 02 Jan 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.
Bank Nifty Astro Plan based on Intraday Ratio Calculator.
Waiting for price to go back again above 43055 for Bulls to be active.
Bank Nifty Jan Future Open Interest Volume is at 22 lakh with addition of 5.2 Lakh contract , with decrease in Cost of Carry suggesting Long positions were added today.
Bank Nifty Rollover cost @42890 and Rollover % @80.4 Closed above it,
Bank Nifty Bulls now need to move above 43083 for move towards 44000.
Maximum Call open interest of 15 lakh contracts was seen at 43500 strike, which will act as a crucial resistance level and Maximum PUT open interest of 15 Lakh contracts was seen at 43000 strike, which will act as a crucial Support level.
MAX Pain is at 43000 and PCR @1.10 . Markets tend be range-bound when PCR OI (Open Interest) ranges between 0.90 and 1.05.
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For Positional Traders Trend Change Level is 43256 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 43317 will act as a Intraday Trend Change Level.