Mercury Trine North Node: Tomorrow’s Prediction [Forecast] Nifty Bank

By | February 10, 2022 8:42 pm

2 Bullish targets were completed. Tommrow we have multiple astro events between inner and outer plannets Venus Trine Uranus HELIO and Mercury Trine North Node. North Node aka Rahu it leads to extreme volatility in the market so again we will see wild swings in the market. For Swing Traders Bears will get active below 38801 for a move towards 38603/38405. Bulls willget active above 39108 for a move towards 39305/39501

 

Intraday time for reversal can be at 10:10/11:05/12:32/1:15/2  How to Find and Trade Intraday Reversal Times

Bank Nifty Feb Future Open Interest Volume is at 18.9 lakh with addition of  0.33 Lakh contract , with decrease in Cost of Carry suggesting  LONG positions were closed today.

MAX Pain is at 39000 and PCR @0.91 Rollover cost @37516 closed above it. 

US Infaltion came in at 7.5 % which increase rate hike odd to 50 BPS in March Meeting it can lead to a big impact on USD and Emerging Market and which in turn will Impact Equities.38555 should be watched if we open gap down tommrow. Holding 38555 rally back to 39104. 

The Option Table data indicates decent support at 38500 and reasonable resistance at 39500.There is total OI of 2.4 Cores on the Call side and 2.76 Cores on the Put side, So, the activity is more on the PUT side, indicating option writers are  in BULLISH zone.

For Positional Traders Trend Change Level is 38547 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 39011 will act as a Intraday Trend Change Level. 

Buy Above 39020 Tgt 39120, 39228 and 39420 (Bank Nifty Spot Levels)

Sell Below 38850 Tgt 38729 , 38610  and 38450 (Bank Nifty Spot Levels)

As always I wish you maximum health and trading success

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