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
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!