Merucry Retrograde Bank Nifty Analysis

By | September 8, 2022 10:32 pm

As Discussed in Last Analysis We have important Aspect tommrow of Moon and Saturn as discussed in below video. First 15 Mins HIgh and Low should decide the trend of the market. Swing Trade Plan is Bullish above 39673 for a move towards 39873/40073/40225, Bears will get active below 39273  for a move towards 39072/38872. We got big move and bank nifty did all target on upside, Tommrow we have mercury retrograde as shown in below video so time to be cautious on longs as it lead to trend reversal. Swing Trade Plan is Bullish above 40248 for a move towards 340447/40645/40843, Bears will get active below 40050 for a move towards 39852/39654/39456

Intraday time for reversal can be at 10:04/10:54/11:51/12:34/1:50/2:33 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 1.7  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 39381 is Pivot Above it rally towards 40518 Below it 38243 .

Maximum Call open interest of 18 lakh contracts was seen at 40500 strike, which will act as a crucial resistance level and Maximum PUT open interest of 19  lakh contracts was seen at 39500 strike, which will act as a crucial Support level

MAX Pain is at 10300   and PCR @0.9 . PCR below 0.95 and above 1.3 lead to trending moves, and in between leads to range bound markets.

“Let the market tell you what you are going to make. Anytime you say ‘I have to…’ you’re in for potential trouble. Remember: The market doesn’t care about you.”

For Positional Traders Trend Change Level is 39502 on Futures 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 40370 will act as a Intraday Trend Change Level.

Buy Above 40300 Tgt 40414, 40610 and 40824 (Bank Nifty Spot Levels)

Sell Below 40125 Tgt 39986,39855  and 39666 (Bank Nifty Spot Levels)

As always I wish you maximum health and trading success

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