Strategy for Trading in Bank Nifty

By | February 8, 2022 12:18 am

As discussed in below video Bank Nifty has completed the journey from 39424-37836. Now Bulls need to move above 38034 for a move back to 38233/38432/38630. Bears below 37830 can see quick fall towards 37665/37458. We have seen Impact of Mercury Direction change. Now we will have Mars aspect tommorow and Mars adds lot of energy so we can  see another big move tommorow. 

Intraday time for reversal can be at 10:16/11:56/12:57/1:09/2:06  How to Find and Trade Intraday Reversal Times

Bank Nifty Feb Future Open Interest Volume is at 21.6 lakh with liquiadation of .23 Lakh contract , with decrease in Cost of Carry suggesting  LONG positions were closed today.

MAX Pain is at 38300 and PCR @1.07 Rollover cost @37516 closed above it. 

The Option Table data indicates decent support at 37500 and reasonable resistance at 38500 .There is total OI of 3.44 Cores on the Call side and 1.76 Cores on the Put side, So, the activity is more on the CALL side, indicating option writers are  in BULLISH zone.

For Positional Traders Trend Change Level is 38573 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 38376 will act as a Intraday Trend Change Level. 

Buy Above 38103 Tgt 38211, 38320 and 38500 (Bank Nifty Spot Levels)

Sell Below 37800 Tgt 37666, 37555 and 37300(Bank Nifty Spot Levels)

As always I wish you maximum health and trading success

Category: Bank Nifty Daily

About Bramesh

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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