Bank Nifty Analysis : 13 September 2022

By | September 13, 2022 8:44 am

As Discussed in Last AnalysisBank Nifty saw profit booking from higher level, after doing 2 target on upside. Now next week will be very crucial Swing Trade Plan is Bullish above 40481 for a move towards 40681/40882/41083, Bears will get active below 40280 for a move towards 40080/39879/39677/39475. Bulls were able to close above 40481 now waiting for 40681/40882/41083. Bears will have chance below 40477 for a move towards 40240/40050/39852. 

Till we do not close below Friday Low of 40280 do not short the market. Mercury Retrograde can lead to impulsive move on upside.

Intraday time for reversal can be at 09:48/10:37/11:20/12:29/1:32/2:33 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 21.2 lakh with addition of 0.10 Lakh contract , with increase in Cost of Carry suggesting  long positions were closed today.

Bank Nifty saw  A flat day. Though the trading volumes are high, not much changes are visible either in the FII activity on Bank  Nifty Future OI. It is a pause day before both the bulls and bear camps plan their next course of action.

As per Musical Octave 40518 is Pivot Above it rally towards 41724 Below it 39381 .

Maximum Call open interest of 38 lakh contracts was seen at 40800 strike, which will act as a crucial resistance level and Maximum PUT open interest of 41 lakh contracts was seen at 40000 strike, which will act as a crucial Support level

MAX Pain is at 40500 and PCR @1.01 . PCR below 0.95 and above 1.3 lead to trending moves, and in between leads to range bound markets.

Good risk management decreases the amount of your draw downs which makes trading a much easier proposition. Consistently growing capital is a much more pleasant process when you are not trying to come back from 25%-50% draw downs, trust me on this, been there done that.

For Positional Traders Trend Change Level is 39687  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 40661 will act as a Intraday Trend Change Level.

Intraday Trading Levels

Buy Above 40729 Tgt 40852, 41000 and 41125 (Bank Nifty Spot Levels)

Sell Below 40529 Tgt 40406, 40235 and 41000 (Bank Nifty Spot Levels)

As always I wish you maximum health and trading success

Category: Bank Nifty

About Bramesh

Bramesh Bhandari has been actively trading the Indian Stock Markets since over 15+ Years. His primary strategies are his interpretations and applications of Gann And Astro Methodologies developed over the past decade.

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