As Discussed in Last Analysis 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. As discussed in below video Mard and Mercury were changing sign, Mars always creaate voaltlity in market and we have seen it yesterday. Today we have Moon Declination so watch for 15 mins high and low to know the trend of the day. Bulls need to move above 33940 for a move towards 34124/34308/34491/34657. Bears need to move below 33729 for a move towards 33626/33535/33444/33353.
Intraday time for reversal can be at 9:15/10:24/11:58/12:22/1:20/1:52/2:16 How to Find and Trade Intraday Reversal Times
Bank Nifty May Future Open Interest Volume is at 22.1 lakh with liquidation of 2.9 Lakh contract , with increase in Cost of Carry suggesting Long positions were closed 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 25 lakh contracts was seen at 34000 strike, which will act as a crucial resistance level and Maximum PUT open interest of 21 lakh contracts was seen at 33500 strike, which will act as a crucial Support level
MAX Pain is at 33900 and PCR @0.91 . PCR below 0.93 and above 1.3 lead to trending moves, and in between leads to range bound markets.
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