Intraday time for reversal can be at 9:20/10:08/11:05/12:49/1:20/2:44 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 21.8 lakh with liquidation of 040Lakh contract , with decrease in Cost of Carry suggesting long positions were closed today.
As per Musical Octave 40518 is Pivot Above it rally towards 41724 Below it 39381 . — 41724 done.
Maximum Call open interest of 28 lakh contracts was seen at 41500 strike, which will act as a crucial resistance level and Maximum PUT open interest of 22 lakh contracts was seen at 40500 strike, which will act as a crucial Support level
MAX Pain is at 41000 and PCR @0.95 . PCR below 0.95 and above 1.3 lead to trending moves, and in between leads to range bound markets.
You can’t try to be a disciplined trader. You must be a disciplined person to be a disciplined trader. Trading is a reflection of your personal Life. A Trader cannot become a profitable trader until he becomes a more disciplined person.
For Positional Traders Trend Change Level is 40100 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 41007 will act as a Intraday Trend Change Level.