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Gujrat Election 2022: Bank Nifty Analysis – Bramesh’s Technical Analysis

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Bramesh



As discussed in Last Analysis

Below video we have shared the importance of Declination, Today we have Mars which is very important. Try to take after RBI Policy is done. We will either see 25 or 35 BPS hike but commetary of governor will be very important. Intraday traders can follow the Square number level shared in the below video.

2017 Gul Election we have seen a massive volatialty at opening gap down and quick reovery. Be prepared for it as Gann told History repeat by itslef. Tommrow we also have New Moon first 15 mins HIgh and low will guide for the day.

For Swing Trade Bulls need to move above 43328 for a move towards 43471/43557/43701 . Bears will get active below 43054 for a move towards 42910/42824/42739/43594

Intraday time for reversal can be at 10:21/11:03/12:07/1:27/3:12 How to Find and Trade Intraday Reversal Times

Bank Nifty Dec Future Open Interest Volume is at 26.5 lakh with liquiation of 0.28 Lakh contract , with increase in Cost of Carry suggesting short positions were covered today.

Bank Nifty Rollover cost @42828 and Rollover % @81.3 Closed above it, Bank NIfty Future is in premium has reduced towards  205 points.

Till Bank Nifty is below 43131 on closing basis  Bears will have upper hand.

 

Bank Nifty as per musical octave trading path can be  41724-43929-44206  take the side and ride the move !! Multiple SUpport taken at 43929 and bounceback.

Maximum Call open interest of 30 lakh contracts was seen at 43500 strike, which will act as a crucial resistance level and Maximum PUT open interest of 36 lakh contracts was seen at 43000 strike, which will act as a crucial Support level.

MAX Pain is at 43000 and PCR @0.88 . PCR below 0.95 and above 1.3 lead to trending moves, and in between leads to range bound markets.

One of the main reason why technical analysis works is that human nature and emotions remain the same irrespective of era one is in. People were greedy and fearful even a hundred years back as much as they are now.

For Positional Traders Trend Change Level is 43351 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 43347 will act as a Intraday Trend Change Level.

Intraday Trading Levels

Buy Above 43140 Tgt 43301, 43503 and 43680 (Bank Nifty Spot Levels)

Sell Below 43040 Tgt 42943, 42810 and 42666 (Bank Nifty Spot Levels)

Upper End of Expiry : 43415

Lower End of Expiry : 42780

As always I wish you maximum health and trading success



Category: Bank Nifty Bank NIfty Weekly Expiry

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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