As discussed in LAST AnalysisOn Upside Bulls will get active above 35937 for a move towards 36268/36460/36652.We also have important Bayers Rule becoming active today Bayer Rule 31: The trend changes when Venus in declination reached an extreme beyond 23 degrees 26 minutes 51 seconds, so do not be a blind bear be ready for a positon change once price start trading above 35937. Bayers again helped in capturing the big move and bank nifty has finally close above gann 1×1 line as shown in below chart. Now for swing traders Bulls need to move above 36775 for a move towards 36962/37152/37342/37532. Bears will get active below 36393 for a move towards 36203/36013. Try to trade 30 mins after RBI Policy comes out do not stuck on any one side in volatile session.
Bank Nifty 3 time touching its Plannetary Line marked in Blue and we have 2 important aspect involving Jupiter, Mars Square Jupiter and Moon Cojunct Jupiter suggesting break of 36775 can lead to massive short covering in Bank Nifty towards 36962/37152/37342/37532.
Bank Nifty Nov Future Open Interest Volume is at 23.6 lakh with liquidation of 2.3 Lakh contract , with increase in Cost of Carry suggesting SHORT positions were closed today.
MAX Pain is at 36500 massive shift in max pain of 500 points, and PCR is in Bullish zone of 0.86
The Option Table data indicates decent support at 36000 and reasonable resistance at 37000.
Bank Nifty has close above its 100 DMA today @ 36364 now close above 36450 will give a swing target of 37094. — Waiting for 37094 till we are closing above 36450.
For Positional Traders Trend Change Level is 36508 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 36613 will act as a Intraday Trend Change Level.