As Discussed in Last Analysis 35210 done and now waiting for 35575/35729 where we will hit the gann angle. We have Mercury Ingress tommorow so Rally can continue till we are holding 35170. HDFC BANK was down today still bank nifty did a 600 points move. thats how time helps in capturing the right move. 35729 done as Mercury Ingress showed its impast as gap down was bought into, now till we are holding today 35485 we are heading towards 35738/35937/36234. Range of 35758-35790 will be a tricky range with lot of supply coming. Bears will get active below 35480 for a move towards 35297/35110.Price has closed exactly at the gann angle.
Intraday time for reversal can be at 10:54/11:48/12:27/1:39/2:16 How to Find and Trade Intraday Reversal Times
Bank Nifty May Future Open Interest Volume is at 22.8 lakh with addition of 0.27 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.
Bank Nifty Future have 14.7 Lakh OI added in range of 34598-33500 price zone out of today 20 Lakh which is more than 60% and yesterday we have made low of 34541 suggesting we should see a move towards 35472-35999 by next week based on OI data. — 35690 done today waiting for 35999
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 900 points done. — Price has now closed above 35358 by a whisker waiting for 1000 point rally.
Maximum Call open interest of 12 lakh contracts was seen at 36000 strike, which will act as a crucial resistance level and Maximum PUT open interest of 18 lakh contracts was seen at 35500 strike, which will act as a crucial Support level
MAX Pain is at 35500 and PCR @0.88. PCR below 0.93 and above 1.3 lead to trending moves, and in between leads to range bound markets.
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