Will Bank Nifty Cross its 200 DMA ?

By | July 21, 2022 8:26 pm

As Discussed in Last Analysis All Bullish target done Now tommow will be an important day as Jupiter and Saturn are making an aspect as discussed in below video. For Swing Traders Bulls need to move above 36066 for a move towards 36322/36444/36634. Bears will get active below 35802 for a move towards 35612/35421/35231. Low made was 35887 so bears unable to break 35802 and bulls above 36066 did 36322 on upside now waiting for 36444/36634. Bank Nifty is near its 200 DMA @ 36426 crucial level to be watched tommrow. Till low of 35887 is held as today Jupiter Square 45 which is a rare aspect as discused in below video Bulls will have upperhand. Bears will get active below 35885 for a move towards 35729/35555.

Intraday time for reversal can be at 10:25/11:17/12:59/2:11 How to Find and Trade Intraday Reversal Times

Bank Nifty May Future Open Interest Volume is at 22.4 lakh with addition 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.
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. 35999 done
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. — 1000 points done

#banknifty another 1000 move 35170-36217-37263 #octave

Maximum Call open interest of 11 lakh contracts was seen at 37000 strike, which will act as a crucial resistance level and Maximum PUT open interest of 12 lakh contracts was seen at 35500 strike, which will act as a crucial Support level
MAX Pain is at 36900 and PCR @0.99. PCR below 0.93 and above 1.3 lead to trending moves, and in between leads to range bound markets.
The first losses leave the deepest traces. Over time, however, you get used to it and the subsequent losses are no longer perceived with the same intensity, no matter how great they may be. The trader feels indifferent: “Oh, it doesn’t matter whether I lose the money or not!”

For Positional Traders Trend Change Level is 34837 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 36165 will act as a Intraday Trend Change Level.

Buy Above 36225 Tgt 36323, 36444 and 36585 (Bank Nifty Spot Levels)

Sell Below 36101 Tgt 35948, 35816 and 35729 (Bank Nifty Spot Levels)

As always I wish you maximum health and trading success

Leave a Reply