NIFTY BANK Daily Astro and Gann Analysis

By | December 14, 2021 8:56 pm
  • As Discussed in Last Analysis  We opened with gap up and as soon as 15 min low was broken based on double ingress as seen in below video bears had upper hand. Now bank nifty is near an important level of 36805-36850 which it has held in last 3-4 trading session. Bulls need a move above 36999 for a move towards 37193/37387/37581. Bears will have chance below 36805 for a move towards 36611/36417/36224.  It was a day of whipsaw today Venus Square Jupiter HELIO Aspect which is Important Key Date for Index. Break of today High and low can see a move of 551 points in Bank Nifty. Bulls need to move above 37050 for a move towards 37310/37501/37692. Bears will get active below 36805 for a move towards 36611/36417/36224. 

  • Bank Nifty Nov Future Open Interest Volume is at 22.3 lakh with liquidation of 0.04 Lakh contract , with increase in Cost of Carry suggesting  LONG positions were closed today.
  • MAX Pain is at 37000 and PCR is in Bullish zone of 0.91, No Fall in PCR and Max Pain even after today’s fall.
  • The Option Table data indicates decent support at 36800 and reasonable resistance at 37500
  • In each of the last 5 days, we had a big range intra-day and at the end, the longer term picture did not change much. In effect, Institutions have been trading intra-day without effecting the longer term picture, Bank Nifty is stuck in range of 36805-37581
  • We are living in an insane world – Fed confirm Taper is ON that might stop the printing press – And we might rally on Bad news. So, dont be surprised if markets appear irrational.
  • For Positional Traders Trend Change Level is 36749 on Futures and 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 36920 will act as a Intraday Trend Change Level. 

Buy Above 36928 Tgt 37118, 37310 and 37501 (Bank Nifty Spot Levels)

Sell Below 36846 Tgt 36654, 36461 and 36269 (Bank Nifty Spot Levels)

As always I wish you maximum health and trading success

Category: Daily

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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