As Discussed in below video We had Important astro date today and tommrow we have double ingress For Swing Traders Bulls need to move above 34064 for a move towards 34247/34431/34614. Bears need to move below 33881 for a move towards 33698/33515.
Intraday time for reversal can be at 9:16/10:35/11:47/12:20/1:53/2:20 How to Find and Trade Intraday Reversal Times
Bank Nifty May Future Open Interest Volume is at 25.1 lakh with addition of 0.41 Lakh contract , with increase in Cost of Carry suggesting Long positions were added today.
Bank Nifty rollover cost @ 33655 and Rollover @80.2 % Closed above it.
As per Musical Octave Above 33195 Rally towards 34183
Maximum Call open interest of 18 lakh contracts was seen at 4500 strike, which will act as a crucial resistance level and Maximum PUT open interest of 14 lakh contracts was seen at 33500 strike, which will act as a crucial Support level
MAX Pain is at 33700 and PCR @0.88 . PCR below 0.93 and above 1.3 lead to trending moves, and in between leads to range bound markets.
Trading is always a mixture of rational (entry, stops, exit) and emotional action (being stopped out, Dare to re-enter, leave stops untouched, etc.). The challenge in trading is always on the emotional level!