As Discussed in Last Analysis Bank Nifty did not breach the 15 mins low and once above 38730 did 39119 and today should be able to do 39314. Bulls till above 39120 will target 39314/39509, Today is Monthly expiry so expect big move post 2 PM. Bears will have chance below 38924 for a move towards 38730/38535. We got the big move post 2 PM and bulls were able to to final target of 39314 on upside and bears did 38803 near our target of 38730. Tommrow we have important Bayers Rules coming Bayer Rule 27: Big tops and big major bottoms are when Mercury’s speed in Geocentric longitude is 59 minutes or 1 degree 58 minutes.
so watch out for 15 mins high and low to trade the day. For Swing Traders Bulls need to move above 39161 for a move towards 39360/39559/39759. Bears Will get active below 38762 for a move towards 38562/38363/38164.
Intraday time for reversal can be at 10:59/11:58/12:56/2:14/2:50 How to Find and Trade Intraday Reversal Times
Bank Nifty Sep Future Open Interest Volume is at 18.3 lakh with addition of 6.2 Lakh contract , with increase in Cost of Carry suggesting long positions were added today.
As per Musical Octave 38243 is Pivot Above it rally towards 39381 Below it 37169. — 39381 done and corrected from that.
Maximum Call open interest of 4.5 lakh contracts was seen at 39500 strike, which will act as a crucial resistance level and Maximum PUT open interest of 4.2 lakh contracts was seen at 38500 strike, which will act as a crucial Support level
MAX Pain is at 38900 and PCR @0.78 . PCR below 0.95 and above 1.3 lead to trending moves, and in between leads to range bound markets.3
Trading Requires supreme Skills of being Flexible of getting in and out of trade without caring about Money.