Intraday time for reversal can be at 9:15/10:09/11:03/12:12/1:00/2:13 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 19.2 lakh with liquidation of 0.26 Lakh 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 42000 strike, which will act as a crucial resistance level and Maximum PUT open interest of 32 lakh contracts was seen at 41000 strike, which will act as a crucial Support level
MAX Pain is at 41500 and PCR @0.95 . PCR below 0.95 and above 1.3 lead to trending moves, and in between leads to range bound markets.
The most difficult thing for any trader to do is isolate the emotional part of his thinking and keep it from interfering with his trading. One of the best ways to accomplish this task is to plan and place both the entry point and price objective before you make the trade.
For Positional Traders Trend Change Level is 40180 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 41541 will act as a Intraday Trend Change Level.