Weekly Expiry Analysis of Bank Nifty: The Credit Suisse Factor and What it Means for Traders

By | March 16, 2023 7:30 am

As Discussed In Last Analysis Bank Nifty correction may be unsettling for traders as we have seen fall of 2484 points in just 5 trading sessions. As traders, it’s important to stay calm during market corrections and not panic. Corrections can present great buying opportunities for those who have a long-term view of the market. It’s also important to have a solid trading plan in place and to stick to your strategy.

In the world of trading, there are certain Astro rules that traders follow to gain insights into market trends and potential reversals. Today, we’re highlighting two important Bayer rules that traders should keep in mind.

Bayer Rule 15 states that by analyzing the position of Venus relative to the Sun, traders can gain insights into major market moves and potential reversals. Specifically, traders should pay attention to Venus Heliocentric Latitude at extreme and least speeds, as these can indicate significant changes in market direction.

Rule No. 38 focuses on Mercury Latitude Heliocentric, which can also provide valuable insights for traders. When Mercury is in motion and passes certain degrees, it can produce powerful tops and bottoms in the market.

By understanding these rules and analyzing the movements of Venus and Mercury, traders can make more informed trading decisions and potentially profit from major market moves.

In conclusion, it’s important for traders to keep an eye on celestial movements and pay attention to these important Bayer rules. By doing so, they can gain a deeper understanding of market trends and potentially make profitable trades.

Credit Suisse, a major banking institution, has been in the news recently and its performance has had a negative impact on banking stocks around the world. However, there has been a recent update that the Swiss National Bank has stated it will provide Credit Suisse with liquidity if necessary, which could potentially boost sentiment in the short term.

As for the Bank Nifty index, it is currently near the Gann Angle 1×2, and if it can hold above the low of 38934 for at least an hour, it may provide some relief for bullish traders. However, in order for a short-term bottom to be formed and a rally to occur, the Bank Nifty needs to close above 39332 on a daily basis.

It is important to note that the selling based on advance tax has ended and the NAV (net asset value) game will begin, so traders should exercise caution.

Furthermore, two important astrological events are happening today: Mercury Conjunct Neptune and Mercury Square Mars. For intraday traders, the high and low of the first 15 minutes of trading will be important indicators to guide their trading decisions.



Astro Plan based on Bayers Rule Swing traders can expect a potential move towards 40048, 40398 , or 40703if the Bank Nifty trades above 39787 . However, if the Bank Nifty falls below 39112 , Bears may become more active, leading to a move towards 38851,38501,38196.

Traders may watch out for potential intraday reversals at 09:31,11:16, 12:40, 1:12, 2:08 and 2:48. How to Find and Trade Intraday Reversal Times

Bank Nifty March Futures Open Interest Volume stood at 27.3 lakh, witnessing a liquidation of 0.97  lakh contracts. Additionally, the decrease in Cost of Carry implies that there was a closure of Short positions today.

Traders who follow the musical octave trading path may find valuable insights in predicting Bank Nifty’s movements. According to this path, Bank Nifty may follow a path of 38227-39332-40502-41672. This means that traders can take a position and potentially ride the move as Bank Nifty moves through these levels.

Of course, it’s important to keep in mind that trading is inherently risky and market movements can be unpredictable.

According to the Bank Nifty options chain, the call side has the highest open interest (OI) at the 39300 strike, followed by the 39500 strike. On the put side, the 39000  strike has the highest OI, followed by the 38800 strike. This indicates that market participants anticipate Bank Nifty to stay within the39500-40000 range.

The Bank Nifty options chain shows that the maximum pain point is at 39400 and the put-call ratio (PCR) is at 1.05. Typically, when the PCR open interest ranges between 0.90 and 1.05, the market tends to remain range-bound. PCR is on extreme end suggesting we can see sharp reversal .

“The most important thing in trading is capital preservation. The biggest losses come from taking the largest risks

For Positional Traders, The Bank Nifty Futures’ Trend Change Level is At 40640. Going Long Or Short Above Or Below This Level Can Help Them Stay On The Same Side As Institutions, With A Higher Risk-reward Ratio. Intraday Traders Can Keep An Eye On 39632 , Which Acts As An Intraday Trend Change Level.

Intraday Trading Levels:

  • Buy above 39175 with targets at 39300, 39424 and 39665 (Bank Nifty Spot Levels)

  • Sell below 38915 with targets at 38715, 38515 and 38515 (Bank Nifty Spot Levels)

  • Upper End of Expiry : 39231

  • Lower End of Expiry : 38568

Wishing you good health and trading success as always.As always, prioritize your health and trade with caution.

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