As Discussed in Last Analysis We again got support at gann angle as shown in below chart as discussed in below video till we are closing above 35937 bulls have upper hand also 05 May is high intensity day so try to do intraday trade tommrow and do not carry unhedged position for Thursday. For Swing Traders Bulls need to move above 36265 for a move towards 36453/36642/36830/37019. Bears will get active below 35888 for a move towards 35699/35111. All Bearish target done and we have closed below the gann angle and we have seen impact of Mercury Declination. Tommorow again we will have high intenssity astro date so again first 15 mins high and low will decide the trend of the day. For Swing Traders Bulls need to move above 35392 for a move towards 35581/35771. Bears will get active below 35014 for a move towards 34825/34626/34446/34257.
The RBI has increased the repo rate upto 4.40 per cent from 4 per cent earlier while the cash reserve ratio (CRR) has been hiked by 50 basis points to 4.5 per cent.CRR hike to lead to withdrawl of Rs.87000 crs CRR hike effective from midnight of 21st May 2022.The EMIs for your home loans, auto loans and personal loans will increase. The commercial banks and NBFCs are going to increase the interest rates on new loans after the RBI’s announcement.
Intraday time for reversal can be at 9:14/9:56/11:04/12:34/1:47/2:43 How to Find and Trade Intraday Reversal Times
Bank Nifty May Future Open Interest Volume is at 29.2 lakh with ADDITION of 3.4 Lakh contract , with increase in Cost of Carry suggesting SHORT positions were ADDED today.
Now watch for 35937 for a move of 729-1008 move. — Closed BELOW 35937
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.
MAX Pain is at 35600 and PCR @1 Rollover cost @36221 closed below it and Rollover % @80 highest in last 3 months.
We may be in for some trending environment, as opposed to the recent trading the ranges. Do not be in a hurry to enter trade. — Worked Perfectly
Trading is a very stressful endeavour and you can’t think straight when you see your life savings going up and down like a yo-yo unless you are prepared and have trained your subconscious mind to react to your commands and not the wiggles on the tape at the emotional extremes.
For Positional Traders Trend Change Level is 36112 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 35806 will act as a Intraday Trend Change Level.
Buy Above 35415 Tgt 35567, 35718 and 35900 (Bank Nifty Spot Levels)
Sell Below 35100 Tgt 34970, 34825 and 34555 (Bank Nifty Spot Levels)
Upper End of Expiry : 35521
Lower End of Expiry : 34733