Bank Nifty Analysis for 16 Jan

By | January 14, 2023 9:58 am

As Discussed in Last Analysis 

Today again we have Multiple Declination of Jupiter and Moon and also Mars Declination tommrow as discussed in below video. Multiple Doji are formed in Bank NIfty so should see trending move as Multiple Astro Events are confluencing.

We saw positive move in Bank Nifty and price has closed above 2 days High,Price now need to close above 42674 for a positive traction to take place next week, We are completing mercury retrograde today so till we are holding 42000 on closing basis Price can move on upside at 42674.


For Swing Traders Bulls need to move above 42151 for a move towards 42355/42560/42764.– 42355 done now waiting for 42560/42764. 

Bears will get active below 41890 for a move towards 41683/41476

Intraday time for reversal can be at 9:17/10:34/11:06/1:07/2:10/2:41 How to Find and Trade Intraday Reversal Times

Bank Nifty Jan Future Open Interest Volume is at 21.6 lakh with addition of 0.80 Lakh contract , with increase 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  41861 and close above 42684-42770 range for trend to change.


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 25 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 42000 strike, which will act as a crucial Support level.

MAX Pain is at 42500 and PCR @0.91 . 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 42793 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 42325 will act as a Intraday Trend Change Level.

Intraday Trading Levels

Buy Above 42460 Tgt 42588, 42805 and 43000 (Bank Nifty Spot Levels)

Sell Below 42300 Tgt 42170, 42108 and 41898 (Bank Nifty Spot Levels)

As always I wish you maximum health and trading success

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