Jupiter Declination Impact on Bank Nifty

As Discussed in Last Analysis    Today we have Mars Ingress and Yesteday we have Mercury Ingress so we had double ingress as Gann used to say Double ingresses (when two or more planets, not counting the Moon, enter a new sign within two consecutive days), So we can see Major trend change after today. For today watch out for 15 mins High and low for trade. Now for Swing Traders Longs above 34260 for a move towards 34446/34633/34819. Bears will get active below 34073 for a move towards 33886/33700/33513. It was a day of whipsaw still bulls were able to do 1 target on upside.Tommrow we have Jupiter Declination and we will see good trending move in bank nifty in coming 2 trading sessions. Now for Swing Traders Longs above 34260 for a move towards 34446/34633/34819. Bears will get active below 34073 for a move towards 33886/33700/33513.

 

Intraday time for reversal can be at  10:03/11:20/12:35/2:12/2:53 How to Find and Trade Intraday Reversal Times

Bank Nifty May Future Open Interest Volume is at 16.39 lakh with liquidation of  3.30 Lakh contract , with decrease in Cost of Carry suggesting  Long positions were closed today.

Maximum Call open interest of 21 lakh contracts was seen at 34500 strike, which will act as a crucial resistance level and Maximum PUT open interest of 21 lakh contracts was seen at 34000 strike, which will act as a crucial Support level

MAX Pain is at 34300 and PCR @0.96 Rollover cost @36221 closed below it and Rollover % @80 highest in last 3 months.

Tommrow we have Jupiter and Moon Declination it leads to Major Tunring Point in Banks and Financials and Oil and Gas Stocks.

Trade price action not opinions. Be quick to cut losses and patient to ride winners. Getting stuck on what you think should happen could be fatal when the market disagrees with you.

For Positional Traders Trend Change Level is 34659 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 34309 will act as a Intraday Trend Change Level. 

Buy Above 34321 Tgt 34468, 34672 and 34824 (Bank Nifty Spot Levels)

Sell Below 34111 Tgt 33980, 33850 and 33692 (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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