Bank Nifty Back to Gann Angle Resistance

By | August 1, 2022 8:59 pm

Bank Nifty Price time Squaring worked perfectly as discussed in below video and BUlls are on tear and are back to 4×3 line of resistance as shown in below chart.For Swing traders bulls need a move above 38000 for a move towards 38183/38375/38567 .Bears will get active below 37798 for a move towards 37605/37413/37220. Moon Declination tommorow first 15 mins high and low will guide for the day.



Intraday time for reversal can be at 9:55/10:23/11:11/12:36/1:38/2:21    How to Find and Trade Intraday Reversal Times

#banknifty is back to 1×4 line last 2 time we have corrected from it 36800-36850 is crucial range Any close above it price is heading towards the next angle marked by green line 4×3 around 37800.. Failure to close above it correction till 35849.. — 37300 done waiting for 37800.
Bank Nifty rollover cost @ 36814 and Rollover @73.2 % Closed above the rollover level suggesting bias is Bullish

Bank Nifty Aug Future Open Interest Volume is at 22.2 lakh with addition of 2.5 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.

#banknifty another 1000 move 35170-36217-37263 #octave  Low made today 36250 and good bounce. 37263 done now heading towards 38371 


Maximum Call open interest of 20 lakh contracts was seen at 38000 strike, which will act as a crucial resistance level and Maximum PUT open interest of 21 lakh contracts was seen at 37000 strike, which will act as a crucial Support level

MAX Pain is at 37500 and PCR @0.96. PCR below 0.93 and above 1.3 lead to trending moves, and in between leads to range bound markets.

In Trading The rules are not the problem; it is making the rules work for you that is the problem.

For Positional Traders Trend Change Level is 37565 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 37996 will act as a Intraday Trend Change Level. 

Buy Above 38000 Tgt 38092, 38225 and 38400 (Bank Nifty Spot Levels)

Sell Below 37826 Tgt 37750, 37610 and 37424 (Bank Nifty Spot Levels)

As always I wish you maximum health and trading success

Category: Bank Nifty

About Bramesh

Bramesh Bhandari has been actively trading the Indian Stock Markets since over 15+ Years. His primary strategies are his interpretations and applications of Gann And Astro Methodologies developed over the past decade.

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