We have 3 Important Astro event today as discussed in below video
- 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.
- Venus Square North Node
- Mars is turning Direct
First 15 mins HIgh and Low based on Intraday Ratio Indicator can guide for the day.
For Swing Traders Bulls need to move above 42413 for a move towards 42617/42821/43025. Bears will get active below 42096 for a move towards 41890/41683/41476
Intraday time for reversal can be at 9:33/10:48/11:24/12:27/2:05/2:54 How to Find and Trade Intraday Reversal Times
Bank Nifty Jan Future Open Interest Volume is at 20.6 lakh with liquidation of 1.6 Lakh contract , with increase in Cost of Carry suggesting Long positions were closed today.
Bank Nifty Rollover cost @42890 and Rollover % @80.4 Closed below it,
Bank Nifty Bulls now need to hold 42021 , it has bounced from this last time also.
Maximum Call open interest of 25 lakh contracts was seen at 42500 strike, which will act as a crucial resistance level and Maximum PUT open interest of 35 Lakh contracts was seen at 42000 strike, which will act as a crucial Support level.
MAX Pain is at 42300 and PCR @0.90 . Markets tend be range-bound when PCR OI (Open Interest) ranges between 0.90 and 1.05.
One of the reason why beginners trader blow up their trading account and have to leave trading forever is that they are extremely undercapitalized. They are forced out due to market noise
For Positional Traders Trend Change Level is 42902 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 42283 will act as a Intraday Trend Change Level.