We have very important Bankruptcy Aspect tommrow Venus Conjucnt Pluto as discussed in below video, Watch for first 15 mins High and low to get the trend of the market. Follow the levels with discipline and rewards will be seen. For Swing Traders LOng should be taken above 35540 for a move towards 35918/36299. Bears will get active below 35164 for a move towards 34790/34418.
Intraday time for reversal can be at 9:46/10:44/11:21/12:35/1:24/2:24 How to Find and Trade Intraday Reversal Times
Bank Nifty March Future Open Interest Volume is at 22.6 lakh with addition of 5.1 Lakh contract , with increase in Cost of Carry suggesting LONG positions were added today.
MAX Pain is at 35500 and PCR @0.9 Rollover cost @37206 closed below it.
Talking about supports and resistance based on OI at this stage is not quite relevant because, with the kind of Voaltality going on, no strike is safe as 1 day we are down 2000 points and other day 1000 point up.The option table is undergoing a real transformation – with each day one PE level is targeted with huge volumes of writing and the strike is giving way to much lower strikes.
The critical quality needed to make money in this kind of market, where trends will flip on no notice is: Extreme flexibility Be prepared to flip your positions and trades with market flavour.It is always the minority which wins in the markets. So, be open for possibilities.
Before the outbreak of Russia -Ukraine issue, global central banks were already struggling to control inflation. But with geo-political risk and commodity prices, esp. energy prices going through the roof, balancing inflation and growth will be extremely difficult.
For Positional Traders Trend Change Level is 35909 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 35297 will act as a Intraday Trend Change Level.
Buy Above 35400 Tgt 35526, 35651 and 35864 (Bank Nifty Spot Levels)