As Discussed in Last Analysis 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. Low made was 36248 so bears unable to break 36241 and bulls once above 36626 did 36818 and now waiting for 37011. For Swing traders bulls need a move above 37011 for a move towards 37200/37390 /37581 .Bears will get active below 36629 for a move towards 36439/36248. We have JUpiter Retrograde tommrow so first 15 mins high and low will guide us and also formed Outside Bar pattern suggesting today low is not breached we are heading towards 37263.
Intraday time for reversal can be at 9:47/10:54/12:26/1:31/2:45 How to Find and Trade Intraday Reversal Times
Bank Nifty Aug Future Open Interest Volume is at 12.4 lakh with addition of 3.6 Lakh contract , with decrease in Cost of Carry suggesting Long positions were added today.
We are living in an insane world – Fed confirm intrest rate hike of 75/100 BPS – And we rally on Bad news. So, dont be surprised if markets appear irrational.
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 36600 and PCR @0.88. PCR below 0.93 and above 1.3 lead to trending moves, and in between leads to range bound markets.
Why You Keep Repeating Same Trading Mistakes again and again Suppose I manage a position poorly because of frustration and I exceed my loss limit on the trade, leaving me in the red for the day. I finish flat for the week, however, and instead focus on that fact. The loss is soon forgotten. It doesn’t bother me, but I also don’t learn from it. The next time frustration hits, I repeat my earlier behavior and lose even more money. Disgusted, I decide to take a break from the markets and come back with a positive mindset. In reality, however, I merely return in denial, once again banishing the losses from my mind. Eventually those trading shortcomings catch up to us, forcing us to face them squarely.