As Discussed in Last Analysis All Bullish target done and now Bulls need to move above 34414 for a move towards 34598/34781/34965. Bears will get active below 34047 for a move towards 33864/33680. Bulls were able to do 1 target on upside and Bears were unable to breach 34047. Tommrow we might open gap down Bears will get active below 34047 for a move towards 33864/33680.Bulls need to move above 34283 for a move towards 34469/34655.
Intraday time for reversal can be at 9:42/10:01/11:42/12:23/2:38 How to Find and Trade Intraday Reversal Times
Bank Nifty May Future Open Interest Volume is at 27.5 lakh with liquidation of 0.0 Lakh contract , with increase in Cost of Carry suggesting short positions were closed today.
Astro and Gann Date when Combined can lead to Big move in the market have discussed the same in above video. Next IMportant date is 20 May where both Gann and Astro dates are coming.
Maximum Call open interest of 20 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 34000 strike, which will act as a crucial Support level
MAX Pain is at 34200 and PCR @1.02 Rollover cost @36221 closed below it and Rollover % @80 highest in last 3 months.
Yesterday we had Lunar Eclipse and today we have Moon at Perigee suggesting another big move can be seen in Bank Nifty.– Worked Perfectly
One of the tactics of avoiding fear is to conduct due diligence before entering a trade by doing your analysis. Once that is done, let the trade run to maturity. Walk away from it if necessary and avoid pip-watching.
For Positional Traders Trend Change Level is 34831 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 34340 will act as a Intraday Trend Change Level.