As discussed in Last Analysis Price is back to gann angle support zone and we have important astro events Full Moon, Mercury Ingress and Moon at Perigess happening today and tommrow as disussed in below video. For Swing traders Bulls need to move above 33406 for a move towards 33590/33774. Bears will get active below 33222 for a move towards 33038/32865/32671. Bulls were able to do 1 target on upside and we have formed double bottom and we saw good reversal based on our Astro dates as we will get FOMC decision so carrry expiry positions in Options with Hedge. For Swing traders Bulls need to move above 33487 for a move towards 33669/33851/34033. Bears will get active below 33222 for a move towards 33038/32865/32671.
Intraday time for reversal can be at 10:37/11:01/12:50/1:23/2:11 How to Find and Trade Intraday Reversal Times
Bank Nifty May Future Open Interest Volume is at 27.1 lakh with liquidation of 1.1 Lakh contract , with increase in Cost of Carry suggesting Short positions were closed today.
Bank Nifty rollover cost @ 34598 and Rollover @79.5 % Closed below it.
Below 33195 heading towards 32263 Holding 33195 heading towards 34183/35170 based on Musical Octave Numbers. Today were able to hold
Maximum Call open interest of 16 lakh contracts was seen at 33500 strike, which will act as a crucial resistance level and Maximum PUT open interest of 23 lakh contracts was seen at 33000 strike, which will act as a crucial Support level
MAX Pain is at 33500 and PCR @0.82. 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.
After a Trading Loss Whatever the cause, the best solution is just to move on to the next trade with a clear mind and in good spirits.