Bank Nifty Analysis For 06 Sep

By | September 5, 2022 8:44 pm

As Discussed in Last Analysis 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. We got the big move as per expectation and bank nifty closed above the last swing high of 39759, Till Bulls are above 39759 Rally can extend towards 40150. Swing Trade Plan is Bullish above 39804 for a move towards 40002/40201/40400, Bears will get active below 39605 for a move towards 39407/39225/39000. 


Intraday time for reversal can be at 09:15/10:20/11:06/12:39/1:59/2:51  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 21.3  lakh with addition of 2 Lakh contract , with increase in Cost of Carry suggesting  long positions were added 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 40000 strike, which will act as a crucial resistance level and Maximum PUT open interest of 33  lakh contracts was seen at 39500 strike, which will act as a crucial Support level

MAX Pain is at 40000 and PCR @0.98 . PCR below 0.95 and above 1.3 lead to trending moves, and in between leads to range bound markets.

Trade less make more – Be picky about your trade setups and only take the best ones. The goal is to take the least amount of trades needed as over time even the best traders will lose on more trades than they win on.

For Positional Traders Trend Change Level is 39313  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 39871 will act as a Intraday Trend Change Level. 

Buy Above 39864 Tgt 39978, 40150 and 40300 (Bank Nifty Spot Levels)

Sell Below 39729 Tgt 39610, 39512  and 39250  (Bank Nifty Spot Levels)

As always I wish you maximum health and trading success

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