Bank Nifty Weekly Expiry Analysis for 12 May

By | May 11, 2022 8:15 pm

As Discussed in Last Analysis  Bulls were able to do 1 target on upside and close above 34479 now waiting for 34664/34848/35032. Bears will get active below 34170 for a move towards 33927/33678/33400. We saw the impact of Jupiter ingress on Bank Nifty showing some sign of reversal now any move above 34781 will confirm a move towards 35034 in Bank Nifty. It was highly voaltile day with big range bank nifty is still not able to close below the Jupiter Ingress date low suggesting bulls have upper hand. For Swing trades Bulls need to move above 34800 for a move towards 34943/35193. Bears will get active below 34450 for a move towards 34293/34108/33893. We should see big move in Bank Nifty in next 2 trading sessions.


Intraday time for reversal can be at 9:20/9:41/12:08/1:25/2:49 How to Find and Trade Intraday Reversal Times

Bank Nifty May Future Open Interest Volume is at 32.5 lakh with addition of  1.7 Lakh contract , with increase in Cost of Carry suggesting  Long  positions were added today.

Now watch for 34500 for a move towards 35118/35574– High made today was 34781 but to close above 34500

Maximum Call open interest of 26 lakh contracts was seen at 35000 strike, which will act as a crucial resistance level and Maximum PUT open interest of 21 lakh contracts was seen at 34500 strike, which will act as a crucial Support level

MAX Pain is at 34600 and PCR @0.97 Rollover cost @36221 closed below it and Rollover % @80 highest in last 3 months.

Bayer Rule 1: The trend changes when Mercury changes its direction.Mercury goes in Retrograde. — We got a trend change in bank nifty 

Cut your losses – It’s pretty simple. You will not make it in the markets if you can’t cut your losses. You have to be confident in yourself as a trader to know there are an infinite amount of opportunities in the markets and that you can capitalize on them. That gives you the ability to let the losers go.

For Positional Traders Trend Change Level is 35332 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 34534 will act as a Intraday Trend Change Level. 

Buy Above 34800 Tgt 34943, 35100 and 35225 (Bank Nifty Spot Levels)

Sell Below 34610 Tgt 34468, 34293 and 34108 (Bank Nifty Spot Levels)

Upper End of Expiry : 35107

Lower End of Expiry : 34279


As always I wish you maximum health and trading success

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