Bank Nifty Back to its Mercury Retrograde Low

By | January 6, 2023 8:34 am

Tommrow SUN Trine Uranus is very important for World Indices, and Bank Nifty price is back to gann angle support and Bank Nifty has formed an Outside Bar Pattern so we can see sharp reversal. First 15 mins High and Low will guide for Intraday.

SUN Trine Uranus is very important aspect, If yesterday low of markets are held we can see sharp upmove as multiple lunar aspet and Bayers rule are coming in weekend. Also price is back to 42489 which is mercury retrograde low and closed above it. 

  • Bayer Rule 22: The trend changes if retrograde Mercury passes over the Sun. Sun Conjuct Rx Mer
  • MERCURY’S DAILY SPEED IN GEOCENTRIC LONGITUDE
  • FULL MOON
  • MOON DECLINATION

 

Bears will get active below 42950 for a move towards 42751/42540/42330. — All 3 target  done. 

For Swing Traders Bulls need to move above 42743 for a move towards 42952/43160/43369. Bears will get active below 42534 for a move towards 42325/42117/41908

 

Intraday time for reversal can be at 9:58/11:41/12:35/1:58/2:49 How to Find and Trade Intraday Reversal Times

Bank Nifty Jan Future Open Interest Volume is at 23.9 lakh with addition of 0.46 Lakh contract , with decrease in Cost of Carry suggesting Long positions were added today.

Bank Nifty Rollover cost @42890 and Rollover % @80.4 Closed below it,

Bank Nifty Bulls now need to hold  43647 for move towards 43113. Bears below 42200 can see fast fall towars 41128

 

Bank Nifty as per musical octave trading path can be  42170-42582-42996 take the side and ride the move !!

Maximum Call open interest of 15 lakh contracts was seen at 42500 strike, which will act as a crucial resistance level and Maximum PUT open interest of 25 Lakh contracts was seen at 43000 strike, which will act as a crucial Support level.

MAX Pain is at 42500 and PCR @0.85 . Markets tend be range-bound when PCR OI (Open Interest) ranges between 0.90 and 1.05. 

The market works on probability as it is a confluence of all trader activity. So when the probability is tilted on one side, you will see action on that side. When there is pressure on the opposite side, the movement happens accordingly.

For Positional Traders Trend Change Level is 43233 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 42841 will act as a Intraday Trend Change Level.

Intraday Trading Levels

Buy Above 42729 Tgt 42864, 42981 and 43108 (Bank Nifty Spot Levels)

Sell Below 42555 Tgt 42444, 42333 and 42222 (Bank Nifty Spot Levels)

As always I wish you maximum health and trading success

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