As Discussed in Last Analysis It was a day of whipsaw still bulls were able to do 1 target on upside.Tommrow we have Jupiter Declination and we will see good trending move in bank nifty in coming 2 trading sessions. Now for Swing Traders Longs above 34260 for a move towards 34446/34633/34819. Bears will get active below 34073 for a move towards 33886/33700/33513. Bank Nifty opened with gap up and did not came near our entry point. Now tommrow we will see impact of Jupiter and also we are completing 144 trading days from 25 Oct 2021 on Bank Nifty so as both gann and astro dates are coming together we should see a good move in the market, Swing Traders Longs above 34446 for a move towards 34633/34819. Bears will get active below 34260 for a move towards 34073/33886/33700/33513.
Intraday time for reversal can be at 9:55/11:16/12:55/1:40/2:27 How to Find and Trade Intraday Reversal Times
Bank Nifty May Future Open Interest Volume is at 14.4 lakh with liquidation of 6.4 Lakh contract , with decrease in Cost of Carry suggesting Long positions were closed today.
Maximum Call open interest of 25 lakh contracts was seen at 34500 strike, which will act as a crucial resistance level and Maximum PUT open interest of 25 lakh contracts was seen at 34000 strike, which will act as a crucial Support level
MAX Pain is at 34400 and PCR @1.02. PCR below 0.9 and above 1.3 lead to trending moves, and in between leads to range bound markets. So, after all the mayhem, we are probably returning to sanity is what is indicated by the rising PCR.
Tommrow we have Jupiter and Moon Declination it leads to Major Tunring Point in Banks and Financials and Oil and Gas Stocks. — We saw Good Move in Bank Nifty
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For Positional Traders Trend Change Level is 34651 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 34503 will act as a Intraday Trend Change Level.
Bramesh ji, first time i am seeing different intraday reversal times for nifty and banknifty, usually both are same. Hope there is no error. Bnf reversal time mentioned are 9:55/11:16/12:55/1:40/2:27, in nifty 10:03/11:20/12:35/2:12/2:53. Pls check thanks
thanks we have correted it