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
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.