Bank Nifty Trade Plan for 31 May

By | May 30, 2022 8:38 pm

As Discussed in Last Analysis  30 May is another important astro date which will come on MOnday so aviod carrying overnight positions without Hedge. Swing Traders Longs above 35225 for a move towards 35408/35593/35729. Bears will get active below 35000 for a move towards 34854/34669/34485. We have seen perfect rise in bank nifty and now heading towards the gann angle resistance of 36250. We have discussed the importance of astro cycle in below video. Swing Traders Longs above 35937 for a move towards 36126/36315/36504. Bears will get active below 35703 for a move towards 35513/35323/35133

Intraday time for reversal can be at  10:06/11:47/12:24/1:49/2:24 How to Find and Trade Intraday Reversal Times

Bank Nifty May Future Open Interest Volume is at 23.7 lakh with addition of  0.52 Lakh contract , with increase in Cost of Carry suggesting  Long positions were added today.

Bank Nifty rollover cost @ 34598 and Rollover @79.5 % Closed above it.

Maximum Call open interest of 31 lakh contracts was seen at 36000 strike, which will act as a crucial resistance level and Maximum PUT open interest of 29 lakh contracts was seen at 35000 strike, which will act as a crucial Support level

 We have Monthly close tommorow Bulls and Bears can settle for 35627 level for tommorow close.

MAX Pain is at 35700 and PCR @1.07 . 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.

#BANKNIFTY closed above #gann Monthly TC Level of 35034 upmove can last till 35574/35758/35984/36179/36641 Any close below 35000 can lead to quick fall towards 34491. Almost 2 target done.

When it comes to trading, professionals are able to do the right thing as naturally as breathing. You no longer have to think about what is right and what is wrong. They act automatically based on their knowledge, experience and skills. They don’t invent opportunities, they find them and then implement them with the help of the behaviour they have learned.

For Positional Traders Trend Change Level is 35466 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 35967 will act as a Intraday Trend Change Level. 

Buy Above 35920 Tgt 36024, 36221  and 36359 (Bank Nifty Spot Levels)

Sell Below 35800 Tgt 35689, 35551 and 35353 (Bank Nifty Spot Levels)

As always I wish you maximum health and trading success

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