Bank Nifty Analysis For 07 Sep

By | September 6, 2022 8:14 pm

As Discussed in Last Analysis 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. Important Astro Dates strats from 08 Sep so tommrow can be another day with Voaltile moves like we saw today, Bank Nifty bulls also failed to close above last swing high of 39759 formed on 19 Aug. Swing Trade Plan is Bullish above 39673 for a move towards 39873/40073/40225, Bears will get active below 39473  for a move towards 39273/39072/38872. 


Intraday time for reversal can be at 10:17/11:49/12:37/1:59/2:22  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 21.2  lakh with Liquidation of 0.18  Lakh contract , with increase in Cost of Carry suggesting  long positions were closed today.
Many people know that FII’s control the ebb and flow of the markets, but what many people do not read is the trades executed by these institutions in futures and options which have a large bearing on the immediate trend.

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


Maximum Call open interest of 38 lakh contracts was seen at 40000 strike, which will act as a crucial resistance level and Maximum PUT open interest of 39  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.

Most traders don’t want to acknowledge that a trade could turn against them. They enter the market assuming they’ll be successful, refusing to look in the rear view mirror. It’s also common for emerging traders to use a calculator to predict how much they’ll make and how they’ll spend the unrealized profits!

For Positional Traders Trend Change Level is 39387 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 39911 will act as a Intraday Trend Change Level. 

Buy Above 39729 Tgt 39819, 39972 and 40125 (Bank Nifty Spot Levels)

Sell Below 39462  Tgt 39260 39108  and 38953 (Bank Nifty Spot Levels)

As always I wish you maximum health and trading success

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