Bank Nifty Analysis for 02 Sep

By | September 1, 2022 11:18 pm

As Discussed in Last Analysis All Bullish target done For the past 4-5 days, we are having highly volatile days with swings on both sides – but the net result is minimal. Today again we will see gap down of 400-500 points,Swing Trade Plan is Bullish above 39407 for a move towards 39606/39824/40000, Bears will get active below 39208 for a move towards 39009/38910/38611. Bulls were able to 2 target on upside , ON 04 Sep Bayer Rule 7: There are changes on market when Venus or Mars goes over its Aphelium Perihelium (Geocentric). will come in effect, so we can see another volatile move tommrow and can see good trend move next week. Swing Trade Plan is Bullish above 39407 for a move towards 39606/39824/40000, Bears will get active below 39197 for a move towards 39000/38803.


Intraday time for reversal can be at 09:33/10:58/11:28/12:45/1:34/2:20  How to Find and Trade Intraday Reversal Times

Bank Nifty rollover cost @ 38918  and Rollover @73.2 % Closed above the rollover level suggesting bias is Bearish.

Bank Nifty Sep Future Open Interest Volume is at 19.6 lakh with liquidation of 2.84 Lakh contract , with decrease in Cost of Carry suggesting  long positions were closed today.

As per Musical Octave 39546 is Pivot Above it rally towards 40689 Below it 38404 .


Maximum Call open interest of 32 lakh contracts was seen at 39500 strike, which will act as a crucial resistance level and Maximum PUT open interest of 33  lakh contracts was seen at 39000 strike, which will act as a crucial Support level

MAX Pain is at 39300 and PCR @0.98 . PCR below 0.95 and above 1.3 lead to trending moves, and in between leads to range bound markets.

In volatile conditions, a trader’s account value gets hurt far less than his psyche. It’s important to make logical, calm decisions in the midst of despair following a mistake or a big loss. Those moments tend to be the very turning points that magnify account value.

For Positional Traders Trend Change Level is 39161 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 39463 will act as a Intraday Trend Change Level. 

Buy Above 39444 Tgt 39555, 39666 and 39777 (Bank Nifty Spot Levels)

Sell Below 39225 Tgt 39100, 38900 and 38729 (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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