Bank NIfty has been consolidating in last 2 session with High Intensity Astro Date involving Sun and Moon on 21 we can see big move in Bank Nifty in next 2 trading sessions.For Swing traders Bulls need to move above 32829 for a move towards 33009/33189/33368/33548. Bears will get active below 32563 for a move towards 32381/32200/32018/31837
Intraday time for reversal can be at 9:39/10:21/11:02/12:49/1:10/2:06 How to Find and Trade Intraday Reversal Times
Bank Nifty May Future Open Interest Volume is at 25.9 lakh with liquidation of 0.07 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 and got big move on downside.
As per Musical Octave 32768 Bank Nifty can rally towards 33195. Bears below 32263 will have upper hand
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 13 lakh contracts was seen at 32500 strike, which will act as a crucial Support level
MAX Pain is at 32700 and PCR @0.87. 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.
The mind is mischievous and it often is the primary cause of failures.The market is always creating noises and if a trader fails to control his inner noises, how can he listen to what the market is trying to tell him?