As discussed in Last Analysis Low made was 40508 and we got the big move as per expectation based on our Astro analysis now till bulls are holding 41000-41020 range as today was both gann and astro date rally can get extended towards 42875/43009 in short term. Bears will have chance below 40999 for a move towards 40804/40603/40401. Bulls will get active above 41209 for a move towards 41413/41616. Bears were able to do 1 target on downside and bulls were able to close above 41209 for upmove to continue towards 41413/41616/41800. Bears will get active below 40999 for a move towards 40804/40603/40401
- Intraday time for reversal can be at 9:42/10:21/11:14/12:09/1:37/2:15 How to Find and Trade Intraday Reversal Times
- Bank Nifty Nov Future Open Interest Volume is at 5.9 lakh with addition of 2 Lakh contract , with increase in Cost of Carry suggesting LONG positions were closed today.
- Axis and Bajaj Finance came with good set of results We may be in for some trending environment. Do not be in a hurry to go SHORT . It is always the minority which wins in the markets. So, be open for possibilities. Bank NIfty can be in for outperformance.
- MAX Pain is at 41000 PCR at 0.98. Max Pain Level is rising every day which means Bulls are in Control.
- The Option Table data indicates decent support at 40500 and reasonable resistance at 42000
- For Positional Traders Stay long till we are holding Trend Change Level 40897 and stay short below it. That will help you stay on the side of Institutions and which has a greater risk-reward ratio. For Intraday Traders 41172 will act as a Intraday Trend Change Level.