Bank Nifty Analysis and Trade Plan for 07 June

By | June 6, 2022 9:34 pm

Tommorow we are completing 90 days from 08 March Bottom. Saturn Retrograde and Mercury Declination suggesting till 35048 is held Bulls have upper hand. For Swing Traders Bulls need to move above 35446 for a move towards 35634/35821/36008. Bears will get active below 34999 for a move towards 34859/34671/34483.

Intraday time for reversal can be at  10:10/11:15/12:21/1:18/2:18 How to Find and Trade Intraday Reversal Times

Bank Nifty May Future Open Interest Volume is at 24 lakh with liquiation of  0.37 Lakh contract , with decrease in Cost of Carry suggesting  Long positions were closed today.

Bank Nifty rollover cost @ 34598 and Rollover @79.5 % Closed below it. Bank Nifty BUlls need to protect 35277 on Bank Nifty Futures tommrow. Low made 35290.

Maximum Call open interest of 18 lakh contracts was seen at 35500 strike, which will act as a crucial resistance level and Maximum PUT open interest of 21 lakh contracts was seen at 35000 strike, which will act as a crucial Support level

MAX Pain is at 35400 and PCR @0.85 . 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 35526/35758/35984/36179/36641 Any close below 35000 can lead to quick fall towards 34491. Today low was 35072 near tc level of 35034. 

The market is always dynamic. It is oblivious to your wins or losses. But too many traders blame the market for their failures. They do not consider for a moment that their failures are caused by a lack of preparation and irrational emotions.

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 35367 will act as a Intraday Trend Change Level. 

Buy Above 35323 Tgt 35465, 35621 and 35817 (Bank Nifty Spot Levels)

Sell Below 35240 Tgt 35113, 34916 and 3761 (Bank Nifty Spot Levels)

As always I wish you maximum health and trading success

Category: Bank Nifty Bank Nifty Astrology

About Bramesh

Bramesh Bhandari has been actively trading the Indian Stock Markets since over 15+ Years. His primary strategies are his interpretations and applications of Gann And Astro Methodologies developed over the past decade.

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