BANK Nifty Gann and Astro Analysis for 09 May

As Discussed in Last Analysis  Bank nifty opened with gap up rallied broke 15 mins high whipsawed and broken low and gave a good fall. For 2 day we have closed below the gann angle as shown below. Any close below today low of 36133 can lead to a fall of 450-898 points move in bank nifty. For Swing Traders Bulls need to move above 35356 for a move towards 35547/34737. Bears will get active below 34975 for a move towards 34784/34555/34257. 09 May we have 4 Aspect of Marcury with Saturn and Neptune suggesting again High Intensity date. For Swing Traders Bulls need to move above 34723  for a move towards 34909/35094/3529/35465. Bears will get active below 34424 for a move towards 34238/34051/33865. 

Intraday time for reversal can be at 9:19/9:56/10:57/12:39/1:43/2:42  How to Find and Trade Intraday Reversal Times

Bank Nifty May Future Open Interest Volume is at 30.1 lakh with addition of  2.1 Lakh contract , with increase in Cost of Carry suggesting  Long  positions were added today.

Now watch for 35937 for a move of 729-1008 move. — Closed BELOW 35937  and we got 729 points move waiting for 1008 points. — 1008 points done.

The option table is undergoing a real transformation – with each day one CE level is targeted with huge volumes of writing and the strike is giving way to much lower strikes.

MAX Pain is at 3400 and PCR @0.95  Rollover cost @36221 closed below it and Rollover % @80 highest in last 3 months.

Bayer Rule 6: The price is in bottom when Mars was in 16 degrees 35 minutes of some sign and plus 30 degrees can it give respite to Bulls Monday if we move above 34723 we could have short term bottom.

Trading is a very stressful endeavour and you can’t think straight when you see your life savings going up and down like a yo-yo unless you are prepared and have trained your subconscious mind to react to your commands and not the wiggles on the tape at the emotional extremes.

For Positional Traders Trend Change Level is 35773 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 34592 will act as a Intraday Trend Change Level. 

Buy Above 34723 Tgt 34816, 34909 and 35001 (Bank Nifty Spot Levels)

Sell Below 34538 Tgt 34445, 34353 and 34200 (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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