which is again a powerful aspect it happens 6 times in a year and lead to good turning point.
Intraday time for reversal can be at 9:55/10:38/11:01/12:48/1:20/2:46 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 16 lakh with liquidation of 2.2 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 . — 40518 done.
Maximum Call open interest of 38 lakh contracts was seen at 41000 strike, which will act as a crucial resistance level and Maximum PUT open interest of 42 lakh contracts was seen at 40000 strike, which will act as a crucial Support level
MAX Pain is at 40500 and PCR @0.85 . PCR below 0.95 and above 1.3 lead to trending moves, and in between leads to range bound markets.
New traders often enter trading with beliefs about trading and the markets that simply do not apply to the realities of trading. This is why new traders get into trades and can’t get out or don’t know when to take profits or get out at the bottom and get in at the top of markets.
For Positional Traders Trend Change Level is 40264 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 40800 will act as a Intraday Trend Change Level.