Intraday time for reversal can be at 9:42/10:24/11:12/12:14/2:09/2:51 How to Find and Trade Intraday Reversal Times
Bank Nifty Oct Future Open Interest Volume is at 18.7 lakh with liquidation of 1.6 Lakh contract , with increase in Cost of Carry suggesting short 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 18 lakh contracts was seen at 39000 strike, which will act as a crucial resistance level and Maximum PUT open interest of 12 lakh contracts was seen at 38500 strike, which will act as a crucial Support level.
MAX Pain is at 39000 and PCR @0.90 . PCR below 0.95 and above 1.3 lead to trending moves, and in between leads to range bound markets.
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For Positional Traders Trend Change Level is 38834 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 38797 will act as a Intraday Trend Change Level.