Bank Nifty Turns Volatile cautious ahead of Pelosi Visit Taiwan

By | August 2, 2022 9:24 pm

As discussed in Last Analysis 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. High made was 38179 above 38000 and Till 37600-37632 is held bulls are in control we have seen voaltile move today as per astro, For Swing traders bulls need a move above 37987 for a move towards 38180/38374/38567 .Bears will get active below 37794 for a move towards 37600/37407/37225.

 

 

Intraday time for reversal can be at  9:37/10:46/12:34/1:22/2:37     How to Find and Trade Intraday Reversal Times

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 23.4 lakh with addition of 1.11 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 37700 and PCR @0.96. PCR below 0.95 and above 1.3 lead to trending moves, and in between leads to range bound markets.

“The Market Doesn’t Give a Damn What You Think, about your economic or political views. Trade what the market is doing, not what you’d like it to do in your wildest fantasies.”

For Positional Traders Trend Change Level is 37662 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 37956 will act as a Intraday Trend Change Level. 

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

Sell Below 37900 Tgt 37729, 37555 and 37323(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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