As Discussed in Last Analysis Bulls were able to enter longs and now waiting for the target of 37002/37147/37292/37438. We got big move as per Astro dates once high of 14 Sep was taken out. Bulls need a close above 37007 for the next upmove towards 37780. Bears will get active below 36729 for a move towards 36582/36375/36184. We got the big move as per expecation and did the all time high above 37007 so astro date worked perfectly once 14 Sep high was taken out as discussed in video. Now Bulls need to move above 37729 for upmove to continue towards 37956/38225. Bears have there chance below 37300 for a move back to 37144/37000
- Intraday time for reversal can be at 9:29/10:03/12:57/2:05 How to Find and Trade Intraday Reversal Times
- Bank Nifty Rollover cost @35609 closed above it. 36019 gone aand we are up 1000 points up in a two trading sessions.
- Bank Nifty Sep Future Open Interest Volume is at 18.3 lakh with addition of 0.65 Lakh, with increase in Cost of Carry suggesting LONG positions were added today.
- We are back to the tricky range of 37085-37249 BNF where Major OI was added so bulls need to cross this range for upmove towards life time high unable to do that fall back to lower end of range. Bulls crossed the range and did ATH
- It was decent rally which caused maximum pain to maximum participants as most retail traders lose money by looking for a trending move in non-trending environments and staying out in trending environments.
- The Option Table data indicates decent support at 37000 and reasonable resistance at 38000.
- For Positional Traders Stay long till we are holding Trend Change Level 36620 and stay short below it. That will help you stay on the side of Institutions and which has a greater risk-reward ratio. For Intraday Traders 37424 will act as a Intraday Trend Change Level.