Bank Nifty Heading in the Resistance zone of 38323-38371

By | August 9, 2022 8:45 pm

Now we are near important zone of 38323-38371 which will again lead to 1008 poits move in Bank Nifty, For Swing Traders Bulls will get active above 38263 for a move towards 38457/38652/38846. Bears will get active below 38069 for a move towards 37875/37681. We have SUN Square North Node aspect so we can see voaltile move in Bank Nifty.




Intraday time for reversal can be at  9:15/09:52/11:31/12:22/1:04/2:04   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 26.4 lakh with addition of 3.1 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. — 1008 points done

#banknifty another 1000 move 35170-36217-37263 #octave  Low made today 36250 and good bounce. 38302 done as of now. 39480-38371-37263 is the levels now


Maximum Call open interest of 22 lakh contracts was seen at 38500 strike, which will act as a crucial resistance level and Maximum PUT open interest of 23 lakh contracts was seen at 38000 strike, which will act as a crucial Support level

MAX Pain is at 38100 and PCR @0.88. PCR below 0.95 and above 1.3 lead to trending moves, and in between leads to range bound markets.

The mind is mischievous and it often is the primary cause of failures. The market is always creating noises and if a trader fails to control his inner noises, how can he listen to what the market is trying to tell him?

For Positional Traders Trend Change Level is 37809 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 38147 will act as a Intraday Trend Change Level. 

Buy Above 38323 Tgt 38444, 38555 and 38666 (Bank Nifty Spot Levels)

Sell Below 38155 Tgt 37991, 37845 and 37729 (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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