As Discussed in Last Analysis Now Bank Nifty will react to results of Kotak and ICICI which came with good set of NUmbers. But lets see how price reacts we have seen many time good results are sold off and Bad results are bought into. For Swing traders bulls nned a move above 36857 for a move towards 37048/37235/37429.Bears will get active below 36476 for a move towards 36285/36200. Astro and Gann helps you to be with the trend as seen in last few days. We have formed a perfect DOJI on gann angle and gann time cycle date as shown in below video. Tommrow will be very crucial and can see some good move in bank Nifty.For Swing traders bulls nned a move above 36857 for a move towards 37048/37235/37429.Bears will get active below 36655for a move towards 36464/6285/36200.
Intraday time for reversal can be at 9:47/10:46/12:47/1:23/2:07 How to Find and Trade Intraday Reversal Times
Bank Nifty May Future Open Interest Volume is at 22.8 lakh with addition of 0.79 Lakh contract , with decrease 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 OI has increased by 0.80 L contracts. So, market cycle continues. My observation is – Institutions short – Big Bears Short – Market Falls – Big Bears Cover – Pigs Short -Institutions Cover – Market Rallies for the Pigs to get slaughtered. 🙂
Maximum Call open interest of 22 lakh contracts was seen at 37000 strike, which will act as a crucial resistance level and Maximum PUT open interest of 24 lakh contracts was seen at 36000 strike, which will act as a crucial Support level
MAX Pain is at 36500 and PCR @0.93. PCR below 0.93 and above 1.3 lead to trending moves, and in between leads to range bound markets.
Success in trading lies with the trader himself, not the trading system or the trading software.