Venus Conjuct Jupiter Aspect: Bank Nifty Analysis

By | March 2, 2023 11:59 pm

As Discussed in Last Analysis   Price bounced for 1×1 gann angle now heading higher towards 50% point at 40769. Venus Conjunct Jupiter aspect is happening tommrow so we can see Bumper expiry.

Bank Nifty formed an Outside Bar and today being Venus Conjuct Jupiter Aspect so Bank Nifty can lead traction till 07 march. With Adani News PSU Stock should be on radar for tommrow. Trading has been diffcult for swing traders with YO YO move coming in Bank Nifty but tommrow as we have weekly closing Bulls would like to close above 40500.




Bank Nifty Formed Outside Bar pattern today Trade Plan as below

Intraday time for reversal can be at 10:08/12:04/1:35/2:40 How to Find and Trade Intraday Reversal Times

Bank Nifty March Future Open Interest Volume is at 24.7 lakh with liquidation of 0.63 Lakh contract , with decrease in Cost of Carry suggesting Long  positions were closed  today.

Bank Nifty Rollover cost @40733 and 78.1 % rollover is done.

Price is stuck between 37.5-50-62.5 gann retracement. Price is approching 50% point @40769

Bank Nifty as per musical octave trading path can be  40218-40620-41024 take the side and ride the move !!

Maximum Call open interest of 21  lakh contracts was seen at 41000 strike, which will act as a crucial resistance level and Maximum PUT open interest of 22  Lakh contracts was seen at 40500 strike, which will act as a crucial Support level.

MAX Pain is at 40500 and PCR 0.84 . Markets tend be range-bound when PCR OI (Open Interest) ranges between 0.90 and 1.05. 

Traders who can manage their emotions effectively are better equipped to make rational decisions in the market. Emotions such as fear, greed, and hope can cloud a trader’s judgment, leading to poor decision-making and losses.

For Positional Traders Trend Change Level is 40493 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 40757 act as a Intraday Trend Change Level.

Intraday Trading Levels

Buy Above 40440 Tgt 40543, 40671 and 40952 (Bank Nifty Spot Levels)

Sell Below 40300 Tgt 40210, 40031 and 39750 (Bank Nifty Spot Levels)

As always I wish you maximum health and trading success

Category: Bank Nifty

About Bramesh

Bramesh Bhandari has been actively trading the Indian Stock Markets since over 15+ Years. His primary strategies are his interpretations and applications of Gann And Astro Methodologies developed over the past decade.

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