As Discussed in Last Analysis 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. Bulls were not able to break 35937 and Bears below 35703 did 2 target on downside, also we saw the importance of Bayers Rule “Bayer Rule 2: Trend goes down within 3 days when the speed difference between Mars and Mercury is 59 minutes. Leads to Big Move “. Tommorow we have 2 Lunar Cycle coming together Moon at Apogee and Moon at Extreme Declination suggesting it will again be a Volatile move. Swing Traders Longs above 35513 for a move towards 35703/35893/36083. Bears will get active below 35323 for a move towards 35133/34944/34754.
Intraday time for reversal can be at 10:07/11:37/12:08/2:03 How to Find and Trade Intraday Reversal Times
Bank Nifty May Future Open Interest Volume is at 24.2 lakh with addition of 0.83 Lakh contract , with decrease in Cost of Carry suggesting Long positions were added today.
Bank Nifty rollover cost @ 34598 and Rollover @79.5 % Closed above it. Bank Nifty BUlls need to protect 35277 on Bank Nifty Futures tommrow.
Maximum Call open interest of 36 lakh contracts was seen at 36000 strike, which will act as a crucial resistance level and Maximum PUT open interest of 32 lakh contracts was seen at 35000 strike, which will act as a crucial Support level
MAX Pain is at 35500 and PCR @1.01 . 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. Today TSL got triggred. Now 35526 should be focussed as above and below it we can easily get 500-1000 points move.
Turning your trading around can’t occur in a vacuum. You Will Always need a “MENTOR”
For Positional Traders Trend Change Level is 35530 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 35722 will act as a Intraday Trend Change Level.
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