Weekly Expiry: BANK Nifty Trade Plan for 24 March

By | March 23, 2022 8:07 pm

 As Discussed in Last Analysis   For Swing traders Bears need to move below 36137 for a move towards 35949/35761. Bulls will get active above 36513 for a move towards 36701/36889/37040. Gap up open took resistance at the gann angle as shown below chart and fell down.  For Swing traders Bears need to move below 35937 for a move towards 35676/35484. Bulls will get active above 36251 for a move towards 36443/36635, 


Intraday time for reversal can be at  9:34/10:06/11:10/11:56/1:24/2:24 How to Find and Trade Intraday Reversal Times

Bank Nifty March  Future Open Interest Volume is at 23.2 lakh with addition of  2.9 Lakh contract , with decrease in Cost of Carry suggesting  SHORT positions were added today.

The option table data indicates decent support at 35500 and reasonable resistance at 36500.

Tommorow we have Gann Yealy cycle 24 March Covid crash date with Astro date Moon at Perigee so both gann and astro date coming so can lead to big move. First 15 Mins High and low will decide the trend of the day.

MAX Pain is at 36200 and PCR @0.96  Rollover cost @37206  closed below it.

Do not get complacent with longs till we do not close above 36456-36539 zone, Basically range of 36456-36539 on upside and 35758-35666 on downside is strong supply and demand zone. Break of any side will lead to 800-1000 points move. Once below 36539 bears had field day Canadian Pension Fund to sell shares in Kotak Bank via block deals tomorrow will put pressure on Kotak Bank.

35790 Bank Nfty watch out closely its important Gann TC level 500-600 pt up and down move will be seen. —Almost 1000 points done above 35790. 

For Positional Traders Trend Change Level is 36194 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 36423 will act as a Intraday Trend Change Level. 

Buy Above 36247 Tgt 36346, 36446 and 36628 (Bank Nifty Spot Levels)

Sell Below 36000 Tgt 35865, 35729 and 35583 (Bank Nifty Spot Levels)

Upper End of Expiry : 36615

Lower End of Expiry : 35768

As always I wish you maximum health and trading success

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