As Discussed in Last Analysis Got the Big move today and we saw power of double ingress and now tommrow we have Mercury Ingress watch for first 15 mins High and low to capture trend for the day. Now Bulls need to move above 34000 for a move back to 34343/34714. Bears below 33605 can see quick fall towards 33240/32876. We again got a big gap up today so aviod carrying overnight positiong without Hedge. We had Mercury Ingress today and 2 Lunar Cycle suggesting tommrow again we will see big move and we also have weekly closing. Price is again reacted from 1×1 Gann Angle. Bulls need to move above 34621 for a move towards 34809/34998/35146. Bears will get active below 34245 for a move towards 34057/33869. 34289 Bank Nfty watch out closely its important Gann TC level 1000 pt up and down move will be seen.
Intraday time for reversal can be at 9:35/10:52/12:40/1:37/2:29 How to Find and Trade Intraday Reversal Times
Bank Nifty March Future Open Interest Volume is at 28 lakh with liquidation of 0.25 Lakh contract , with decrease in Cost of Carry suggesting LONG positions were closed today.
We are approximately 3219 points away from the lows. Can we rally more? Ofcourse we can. But let us look at the rally in a different perspective. Let us assume the institutions are playing this game. Both the rallies and drops are profitable when you are dealing with FnO and you are on the correct side. And it costs to be on the correct side for the institutions. The cost is equity buying and selling. To induce a rally or a fall, buying or selling of equities is required.
PCR below 0.9 and above 1.3 lead to trending moves, and in between leads to range bound markets. So, after all the mayhem, we are probably returning to sanity is what is indicated by the rising PCR. — Worked Perfectly.
MAX Pain is at 34500 and PCR @0.78 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 CE level is targeted with huge volumes of writing and the strike is giving way to much lower strikes.
The huge volatility and wild moves on the FnO front are indicating that the game is being played between the big players.Even the equity selling is very minimal – FII selling just enough to produce the fall
For Positional Traders Trend Change Level is 34753 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 34884 will act as a Intraday Trend Change Level.
Buy Above 34582 Tgt 34689, 34796 and 34999 (Bank Nifty Spot Levels)
Good Morning Sir
Sir is the intraday day sell levels r correct or some typing mistake
please reply
Thanks .