Mercury Declination Influence On BANK Nifty

As disussed in Last Analysis 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. We have multiple astro events happening on Weekend Bayer Rule 15: VENUS HELIOCENTRIC LATITUDE AT EXTREME AND LEAST SPEEDS FOR MAJOR MOVES Imp Rule, Venus YOD Saturn HELIO, Venus Trine Uranus HELIO and Mercury at Extreme Declination both leads to big move. Looking at Ovrernight fall in US market we can see another gap down open,For Swing Traders  Shorts below 38199 can see fall towards 38009/37811/37613. Swing Long above 38405 can see rally back towards 38603/38801.

 

Intraday time for reversal can be at 10:04/11:25/12:19/1:48/2:31  How to Find and Trade Intraday Reversal Times

Bank Nifty Feb Future Open Interest Volume is at 18.5  lakh with liquidation of  0.41 Lakh contract , with decrease in Cost of Carry suggesting  SHORT positions were added today.

MAX Pain is at 38500 and PCR @1.05 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 38000 and reasonable resistance at 39000.There is total OI of 1.52 Cores on the Call side and 1.21 Cores on the Put side, So, the activity is more on the CALL side, indicating option writers are  in BEARISH zone.

For Positional Traders Trend Change Level is 38552 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 38612 will act as a Intraday Trend Change Level. 

Buy Above 38405 Tgt 38494, 38593  and 38691 (Bank Nifty Spot Levels)

Sell Below 38199  Tgt 38100, 38002 and 37850 (Bank Nifty Spot Levels)

As always I wish you maximum health and trading success

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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