Bank Nifty 02 June Weekly Expiry Analysis

By | June 1, 2022 7:27 pm

As Discussed in Last Analysis  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. Last Expiry High was 35309 and Today we made low of  35285 and closed above 35526 also, Plan remains the same Swing Traders Longs above 35513 for a move towards 35703/35893/36083. Bears will get active below 35280 for a move towards 35133/34944/34754. Today we did not got the big move so tommrow we should see explosive expiry.

Intraday time for reversal can be at  9:48/11:33/12:04/2:14/2:54 How to Find and Trade Intraday Reversal Times

Bank Nifty May Future Open Interest Volume is at 22.8 lakh with liquidation of  1.39 Lakh contract , with decrease in Cost of Carry suggesting  Long positions were closed 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. Low made 35290.

Maximum Call open interest of32 lakh contracts was seen at 36000 strike, which will act as a crucial resistance level and Maximum PUT open interest of 25 lakh contracts was seen at 35500 strike, which will act as a crucial Support level

MAX Pain is at 35500 and PCR @0.95 . 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.

To be a superior trader is to be a warrior. A warrior never lets up on his discipline. He is prepared for the next encounter. A famous Samurai battle cry was ìKatte, kabuto no o o shime yo.î Translated it means, ìAfter victory, tighten your helmet cords.î It is very appropriate for anyone involved in the markets. You may have won this battle. Be prepared for the next and the next and the next. The battle with your ego is never ending. Never forget that.

For Positional Traders Trend Change Level is 35545 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 35605 will act as a Intraday Trend Change Level. 

Buy Above 35700 Tgt 35831, 35999 and 35225 (Bank Nifty Spot Levels)

Sell Below 35525 Tgt 35350, 35175 and 34920 (Bank Nifty Spot Levels)

Upper End of Expiry : 36043

Lower End of Expiry : 35266

As always I wish you maximum health and trading success

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