Bank Nifty 23 June Weekly Expiry Analysis

By | June 22, 2022 8:33 pm

As Discussed in Last Analysis Bank Nifty did low of 32797 and once above 32829 did all target on upside and we saw the impact of Astro Date as discussed in below video. For Swing traders Bulls need to move above 33340 for a move towards 33522/33709/33884/34065. Bears will get active below 33043 for a move towards 32860/32677/32494. We have Venus Ingress today which leads to turning point in the market  as discussed in below video. For Swing traders Bulls need to move above 33009 for a move towards 33189/33368/33548/33729. Bears will get active below 33829 for a move towards 32649/32470/32290.

Intraday time for reversal can be at  9:45/11:04/12:35/1:30/2:32  How to Find and Trade Intraday Reversal Times

Bank Nifty May Future Open Interest Volume is at 25 lakh with liquidation of  0.90 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 Above 33195 Rally towards 34183. Fresh Swing SHort below 32768 for a move towards 32263.

Maximum Call open interest of 24 lakh contracts was seen at 33000 strike, which will act as a crucial resistance level and Maximum PUT open interest of 22 lakh contracts was seen at 32500 strike, which will act as a crucial Support level

MAX Pain is at 32900 and PCR @0.99. 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.

It takes time to become a consistently profitable trader. There are many things that a Trading Mentor does to speed up a new trader’s learning curve. But they cannot make the learning curve disappear, it takes time and experience to develop these skills.

For Positional Traders Trend Change Level is 34459  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 32900 will act as a Intraday Trend Change Level. 

Buy Above 32950 Tgt 33048, 33252 and 33397 (Bank Nifty Spot Levels)

Sell Below 32816 Tgt 32700, 32554 and 32351 (Bank Nifty Spot Levels)

Upper End of Expiry : 33211

Lower End of Expiry : 32478

As always I wish you maximum health and trading success

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