As Discussed in Last Analysis 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. 37263 done so we were able to capture the full move and on 17 JUne we made low of 32290 and today 29 July we are above 37500 with Fed raising intrest rate and recessioon cry everywhere time changes quickly in stock market, Now today we have Monthly closing so bulls would like to close above 37559. For Swing traders bulls need a move above 37605 for a move towards 37798/37990.Bears will get active below 37413 for a move towards 37220/37028.
Intraday time for reversal can be at 9:53/10:50/12:42/1:15/1:54 How to Find and Trade Intraday Reversal Times
Bank Nifty Aug Future Open Interest Volume is at 18.2 lakh with addition of 5.8 Lakh contract , with decrease in Cost of Carry suggesting Long positions were added today.
Jupiter Retrograde will end of 23 Novemeber so High 37414 and Low of 37028 will be valid till 23 November, Break of ANy side will lead to minimum 1008 points move.
Maximum Call open interest of 10 lakh contracts was seen at 38000 strike, which will act as a crucial resistance level and Maximum PUT open interest of 11lakh contracts was seen at 37000strike, which will act as a crucial Support level
MAX Pain is at 37200 and PCR @0.95. PCR below 0.93 and above 1.3 lead to trending moves, and in between leads to range bound markets.
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