As Discussed in Last Analysis As Discussed in below video we have Venus Conjunct Uranus HELIO Aspect and Lunar Cycle so we can see good upmove tommrow. Bulls need to close above 35225 now waiting for target of 35380/35567/35755. Bears will get active below 34977 for a move towards 34789/34600. Bank Nifty Bulls opened with gap up but unable to sustain above 35225, Bears below 34977 did 34789. Today again we will see gap down open .Bulls need to close above 34977 now waiting for target of 35166/35354/35543. Bears will get active below 34729 for a move towards 34556/34368/34180.
Intraday time for reversal can be at 9:16/10:53/11:47/12:47/1:45/2:39 How to Find and Trade Intraday Reversal Times
Bank Nifty May Future Open Interest Volume is at 20.5 lakh with liqudiation of 1.9 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.
Range of 35325-35358 should be watched closely. Its Make or break level for 1000 points Move in Bank Nifty. Price closed below 35325 and 500 points done. Till we are below 35170 Bears have upper hand so trail your SL for this trade to 35170.
Above 35550 we can see move towards 35958. Price unable to close above 35550
Maximum Call open interest of 22 lakh contracts was seen at 35000 strike, which will act as a crucial resistance level and Maximum PUT open interest of 22 lakh contracts was seen at 34500 strike, which will act as a crucial Support level
MAX Pain is at 35000 and PCR @1.02 . PCR below 0.93 and above 1.3 lead to trending moves, and in between leads to range bound markets.
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