Bank nifty regarding - Sudden Fall

Hello sir& Everyone
Today banknifty at 9.25 a.m and 9.30 a.m suddenly fall it went almost 500 points down and at 9.45a.m to 9.55 a.m suddenly it raised almost 500 points. Please explain behind the myth.
My observation is if short 34850 whatever price with huge quantity, for covering my short my buy order is 34400 to 34500 that’s why rally in this scenario trap for both long and short traders .Am I correct or not please let me explain.
From your perception or From the fact what would happened?Why it happened ? Please let me explain in simple terms.
By that time I was watching nse option chain for both call and put option. But there was no huge call writing and put writing? Then why sudden fall and sudden raise ?without call and put writing who could made this ? If it will happen again how do we predict market sentiment?

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It is not new; It has happened before; It will happen again. The same move happened on July 12. I have posted that chart as well below.

Today: 34763 was a crucial level for Banknifty as per yesterday’s analysis. Many traders would have had sell orders placed below 34763. Also, the ones who were bullish would have placed their stop-loss orders below 34763. Also, if you notice the point of fall, it coincides with the 20, 50 & 100 EMA levels. Some Algo traders keep the stop loss below those levels too. So orders would have gotten filled quickly and we saw this quick move. In yesterday’s analysis, I had also indicated that the third target could be 34458. Traders have closed their positions there and again buying resumed from that level. We saw a bull trap followed by a bear trap today.

Something similar happened on July 12. Refer chart below. I can point out several occasions in the past too.

Really very thankful for your valuable time sir…

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