Bank Nifty 13-Oct Weekly Expiry Analysis

By | October 12, 2022 10:06 pm

We are having Few Important aspect tommrow which Involves Mercury,Pluto and Uranus which will have big impact on World Markets.

  • Venus YOD Uranus — Key Dates Imp for Global Market
  • Mercury Opposition Pluto HELIO — Important Turning Point

For Tommrow First 15 Mins High and Low will guide for the day. Bank NIfty has formed an Outside Bar and Inside Bar pattern suggesting price is stuck in range and we should see a breakout soon and clear trending move.

For Swing Traders Bulls will get active above 39195 for a move towards 39392/39588/39785. Bears will get active below 38999 for a move towards 38802/38606.

Intraday time for reversal can be at 9:42/11:21/12:13/1:56/2:17/2:59 How to Find and Trade Intraday Reversal Times

Bank Nifty Oct Future Open Interest Volume is at 20.3 lakh with addition of 1.07 Lakh contract , with increase in Cost of Carry suggesting long positions were closed today.

Bank Nifty Rollover cost @ 38460 and Rollover is at 76.5 % Closed above it

Bank Nifty as per musical octave trading path can be  38243-39381-40518 take the side and ride the move !!

Maximum Call open interest of 28 lakh contracts was seen at 39300 strike, which will act as a crucial resistance level and Maximum PUT open interest of 42 lakh contracts was seen at 38800 strike, which will act as a crucial Support level.

MAX Pain is at 39000 and PCR @0.80 . PCR below 0.95 and above 1.3 lead to trending moves, and in between leads to range bound markets.

Anyone can become a trader and overcome his or her fears. Provided that people are not clinically ill, they can resolve those fundamental anxieties if they are truly willing to work on themselves.

For Positional Traders Trend Change Level is 38838 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 39001 will act as a Intraday Trend Change Level.

Intraday Trading Levels

Buy Above 39170 Tgt 39301, 39444and 39640 (Bank Nifty Spot Levels)

Sell Below 39020 Tgt 38900, 38761 and 38555 (Bank Nifty Spot Levels)

Upper End of Expiry : 39628

Lower End of Expiry : 38800

As always I wish you maximum health and trading success

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