Venus at Aphelion :Bank Technical Analysis

By | October 2, 2021 4:44 pm

As discussed in Last Analysis We are still trading with in 29 Sep range when we had important astro date. Bears need to break 37303 for a quick 37110/36826/36666. Bulls need to move 37644 for a move towards 37741/7839/37936/38033. High made was 37299 after gap down and bulls were able to do 1 target on downside, 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.

  • Bank Nifty Oct Future Open Interest Volume is at 20.2  lakh with liquidation of 0.70 Lakh contract , with decrease 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
  • MAX Pain is at 37300 PCR at 0.98 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 37249 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 37509 will act as a Intraday Trend Change Level. 

Buy Above 37400 Tgt 37555, 37729 and 37900 (Bank Nifty Spot Levels)

Sell Below 37160 Tgt 37040, 36920 and 36800 (Bank Nifty Spot Levels)

One thought on “Venus at Aphelion :Bank Technical Analysis

  1. Raghu

    As Venus is associating Ketu, which is headless in actions and with Venus it is creating bad thoughts, leads to downward your courage and create heavy panic situations. As Mars is associating in Venus house, Mars will lose its temper and aggressive nature totally as venus is very soft and dominating in his house. This combination will not favourable to stock market.. and in the history, many bear market situations were started in combination of Mars and Venus and Ketu. So be cautious…possible to hear some global unrest news will be flared up soon.

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