Bank Nifty will Open gap down Sun is moving in Aquarius , SBI should be on Radar today also Moon at extreme declination so bank nifty should see good move today as per levels give below for both intraday and Swing Levels. Also we have Gann Date today as shown below gann chart. First 15 Mins High and Low will guide.
Bank Nifty has formed Narrow Range 21 Pattern today Last time it was formed on 22 Nov and we had a big rally after that, WIll History repeat Jupiter and Sun will have minimum distance tommrow, Jupiter has a good impact on Bank Nifty.
Bank Nifty Bulls need to move above 42512 for a move towards 42641/42777/42913
Bank Nifty Bears need to move below 42225 for a move towards 42099/41963/41824/41692
Intraday time for reversal can be at 9:15/10:02/11:08/1:07/2:02 How to Find and Trade Intraday Reversal Times
Bank Nifty Jan Future Open Interest Volume is at 17.4 lakh with addition of 0.17 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 move above 42554 for move towards 42827
Maximum Call open interest of 16 lakh contracts was seen at 43000 strike, which will act as a crucial resistance level and Maximum PUT open interest of 18 Lakh contracts was seen at 42000 strike, which will act as a crucial Support level.
MAX Pain is at 42300 and PCR @0.97. Markets tend be range-bound when PCR OI (Open Interest) ranges between 0.90 and 1.05.
TWO THINGS TO IMPROVE YOUR TRADE APPROACH: HOW YOU THINK AND HOW THE MARKET THINKS.
For Positional Traders Trend Change Level is 42696 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 42390 will act as a Intraday Trend Change Level.