As discussed ib Last Analysis For Swing Traders Bulls need to move above 37733 for a move towards 37926/38119/38313. Bears will have chance below 37540 for a move towards 37346/37162/36967. We should see big move in bank nifty in next 2 trading session as we have been approaching gann angle and astro date. Bears were able to do 1 target on downside and 1 on upside, Tommrow we will have Bayer Rule 27: Big tops and big major bottoms are when Mercury’s speed in Geocentric longitude is 59 minutes or 1 degree 58 minutes. so first 15 mins high and low will decided the trend of the day. We are back to gann angle resistance zone as shown below more we touch resistance zone it will break, For Swing Traders Bulls need to move above 37843 for a move towards 38036/38229/38422. Bears will have chance below 37650 for a move towards 37457/37264/37008. Also tommrow is last trading day as next 2 days are trading holidays.
Intraday time for reversal can be at 9:33/10:54/1:11/1:59/2:55 How to Find and Trade Intraday Reversal Times
Bank Nifty March Future Open Interest Volume is at 21 lakh with addition of 0.25 Lakh contract , with increase in Cost of Carry suggesting Long positions were added today.
37264 important level to watch will give us 500-729 points move.
The Option Table data indicates decent support at 37500 and reasonable resistance at 38500. There is total OI of 7.40 Cores on the Call side and 6.57 Cores on the Put side, So, the activity is more on the CALL side, indicating option writers are in BEARISH zone.
MAX Pain is at 37700 and PCR @0.92 Rollover cost @36128 closed above it and Rollover % @58.8 lowest in last 3 month.
06 April was Mars and Saturn Aspect ,High of 38759 and 37935 is valid for whole year Mark in on your charts and take trade on break of High and Low. — High made was 37920 and bank nifty turned down.
A great trader is able to think clearly from start to finish, and while there may be some mild irritation (enduring pullbacks), minor impatience (if the position stagnates), or slight satisfaction (as the trade begins to work), they avoid letting those emotions drive their behavior. They truly do stick with their plan, making modifications to it not on a whim, but only when absolutely necessary.
For Positional Traders Trend Change Level is 37693 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 37658 will act as a Intraday Trend Change Level.