Bank Nifty Analysis before Mahurat Trading Session

By | October 20, 2022 11:23 pm

As discussed in Last analysis 

Bank Nifty has hit the upper end of gann angle and also touched the musical octave level as show im below chart. Bulls need to close above 40540 for a move towards 40740/40941/41144. Bears will get active below 40038 for a move towards 39837/39635/39434.

TIll 40000 is held Bulls have upper hand Bulls need to close above 40248 for a move towards 40447/40647/40847/41046. Bears will get active below 39837 for a move towards39635/39434/39232 . Lot of Astro Event are coming in Next week better aviod carrying overnight positions and njoy the Diwali Holidays. 

39613 is Gann 50% level which gann has give lot of importance. Break of 39613 we will see a fast rise towards 40170.Done , Above 40170 heading towards 40726

Intraday time for reversal can be at 9:16/10:41/11:35/12:19/1:41/2:42   How to Find and Trade Intraday Reversal Times

Bank Nifty Oct Future Open Interest Volume is at 15.1 lakh with liquidation of 0.68 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  39456-40689-41889  take the side and ride the move !!

Maximum Call open interest of 28 lakh contracts was seen at 40500 strike, which will act as a crucial resistance level and Maximum PUT open interest of 32 lakh contracts was seen at 39500 strike, which will act as a crucial Support level.

MAX Pain is at 40100 and PCR @0.80 . PCR below 0.95 and above 1.3 lead to trending moves, and in between leads to range bound markets.

Studies show that traders avoid risk when winning and seek risk when losing. This is the exact opposite of what needs to done to sustain in the markets. We must reprogram ourselves and create habits that are unnatural until they become our second nature.

For Positional Traders Trend Change Level is 39231 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 40069 will act as a Intraday Trend Change Level.

Intraday Trading Levels

Buy Above 40125 Tgt 40255, 40411 and 40615 (Bank Nifty Spot Levels)

Sell Below 40025 Tgt 39896, 39729 and 39555 (Bank Nifty Spot Levels)

As always I wish you maximum health and trading success

Category: Bank Nifty

About Bramesh

Bramesh Bhandari has been actively trading the Indian Stock Markets since over 15+ Years. His primary strategies are his interpretations and applications of Gann And Astro Methodologies developed over the past decade.

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