Gann Price Time Squaring: BANK Nifty Analysis

Bank Nifty opened with gap down based on Weekend News on RBL made low for the day in 15 mins and rallied. Classic Case of Bottom are done on Bad News and Tops are done on Good News. So Now we are back to gann angle support and also completing 225 trading days from Jan 29 Bottom, So Price and time both are confluencing. Also we have Important astro event of Mercury Conjunct Jupiter HELIO so bank should outperform the Nifty. Bulls need to move above 35158-35193 can see move towards 35343/35528/35713. Bears below 34930 for a move back to 34811/34688/34555.

Intraday time for reversal can be at 9:31/10:45/11:41/1:29/2:21 How to Find and Trade Intraday Reversal Times

Bank Nifty Nov Future Open Interest Volume is at 19.8 lakh with addition of 0.45 Lakh contract , with increase in Cost of Carry suggesting LONG positions were added today.

The Option Table data indicates decent support at 34800 and reasonable resistance at 35500.There is total OI of 2.3 Cores on the Call side and 2.6 Cores on the Put side, So, the activity is more on the PUT side, indicating option writers are in BULLISH zone.

35193 should be watched very closely tommrow as this level give 1000+ point move.

Bank Nifty has been stuck in the range of 34300-35200 for almost 5 trading sessions and this range should get broken today or tommrow as Jupiter which is Ruling Plannet of Bank Nifty will create range expansion.

For Positional Traders Trend Change Level is 35007 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 34816 will act as a Intraday Trend Change Level.

Buy Above 35193 Tgt 35343, 35528 and 35729 (Bank Nifty Spot Levels)