As Discussed in Last Analysis 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 36464/36285/36200. 36464 done and we have formed an evening star pattern For Swing traders bulls need a move above 36626 for a move towards 36818/37011 .Bears will get active below 36241 for a move towards 36049/35856/35664.
Intraday time for reversal can be at 9:47/10:58/11:36/12:47/1:32/2:22 How to Find and Trade Intraday Reversal Times
Bank Nifty May Future Open Interest Volume is at 13.2 lakh with liqudiation of 4.5 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.
Maximum Call open interest of 63 lakh contracts was seen at 36800 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 @1. PCR below 0.93 and above 1.3 lead to trending moves, and in between leads to range bound markets.
In trading, the objective is to win swiftly whenever possible. It is all about knowing how to handle the trade in accordance with the trading strategy and time frame.