By | August 4, 2022 10:30 pm

As discussed in Last Analysis   Bears got whipsawed below 37794, Bulls were able to close above 37987 now waiting for 38180/38374/38567. Low made today was 37692 so bulls are holding range of 37600-37632. Bears will get active below 37794 for a move towards 37600/37407/37225.Tommrow we have Mercury Ingress so first 15 mins High and Low can guide us for the day. 38180 done on upside and Bears were able to do all target on downside. We saw the impact of Mercury Ingress as discussed in below video and tommrow we will get outcome of RBI Policy. Today we have the Big Legged candel and todays high and low genreally becomes major trend change levels. Check 20 Dec 2021 and 21 Dec 2020 Candel and movement after wards. For Swing trades Bulls need to move above 38828 for move towards 38021/38214/38407. Bears will get active below 37635 for a move towards 37442/37249/37000.




Intraday time for reversal can be at 9:25/10:22/11:14/12:35/1:54/2:49  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 22.4 lakh with liquidation of 1.11 Lakh contract , with increase 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 15 lakh contracts was seen at 38300 strike, which will act as a crucial resistance level and Maximum PUT open interest of 19 lakh contracts was seen at 37500 strike, which will act as a crucial Support level

RBI Monetary Policy: Repo rate set to jump back to pre-pandemic levels; MPC may hike rate by 50 bps. Statement will come by 10 AM. Trade after 11 AM to aviod voaltaltiy. During RBI meet market either goes jerk up or jerk down as soon as data comes do not take positions. Once the Jerk up and down effect is over taking position in Opposite direction of Jerk if days High or low is not broken quick 20-30 points can be made

MAX Pain is at 37900 and PCR @0.98. PCR below 0.95 and above 1.3 lead to trending moves, and in between leads to range bound markets.

There are some traders who just cannot admit that they are wrong. They develop a bias about a stock. When the stock does not trade as they expected, they are paralyzed. They insist that the stock will start acting as they expected, and refuse to exit their positions

For Positional Traders Trend Change Level is 37712 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 37909 will act as a Intraday Trend Change Level. 

Buy Above 37828 Tgt 37925, 38021 and 38225 (Bank Nifty Spot Levels)

Sell Below 37635 Tgt 37525, 37410 and 37225 (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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