Bank NIFTY Technical Analysis Tommrow

By | October 5, 2021 12:32 am

As discussed in Last Analysis  2 important bayers rules are happening on weekend Bayer Rule 7: There are changes on market when Venus or Mars goes over its Aphelium Perihelium (Geocentric) happening on 02 Oct and 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 on 04 Oct so we should see change in trend. Bulls need to move above 37400 for a move towards 37648/37900. Bears will get active below 37106 for a move towards 36914/36818/36722. We saw impact of Astro date and bulls above 3400 did 37648.As we are seeing Servers of Whatsapp,facebook,instagram are down showing Plannets impact most part of human life, Now Bulls need a close above 37648 for a move towards 37840/37937/38035. Bears will be active below 37385 for a move back to 37220/37084.

  • Bank Nifty Oct Future Open Interest Volume is at 18.3  lakh with liquidation of 1.85 Lakh contract , with increase in Cost of Carry suggesting  SHORT positions were closed today.
  • There has been 6.8 L contract roll-over happened today. When you add 6.7 L contracts rolled over yesterday, we have 12L contracts have been rolled over between 38500-37850 price zone. Considering that we are having around 20 OI  this is approximately 50%. So, this price zone will have a crucial bearing in the October series. Rollover Price is at 37993 and Rollover % @ 80.7 on Higher Side, Today High was 37785 still unable to cross 37850.
  • MAX Pain is at 37300 PCR at 0.93 bulls are getting an edge now.
  • The Option Table data indicates decent support at 37000 and reasonable resistance at 38000.
  • For Positional Traders Stay long till we are holding Trend Change Level 37567 and stay short below it. That will help you stay on the side of Institutions and which has a greater risk-reward ratio. For Intraday Traders 37683will act as a Intraday Trend Change Level. 

Buy Above 37610 Tgt 37729, 37850 and 37999 (Bank Nifty Spot Levels)

Sell Below 37500 Tgt 37399, 37220 and 37084(Bank Nifty Spot Levels)

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