- As Discussed in Last Analysis High made today was 26972 so bears reacted from supply zone of 26920 and also reacted from gann angle as shown in below chart, Now bulls need a close above 26500 for a move back towards 26640/26784/26920. Bearish below 26352 for a move back towards 26200/26064. High made today was 26248 so bulls unable to scale towards 26500, once 26352 broken bank nifty did low of 26100 near our 2 target of 26064 and gann angle support. Bulls need close above 26210 for a move towards 26352/26496/26640. Bearish below 26050 for a move back towards 25920/25776. Price move from 1 gann angle to another in a perfect manner. Bank Important intraday time for reversal can be at 10:33/11:48/2:03. Trading Is Harder Than You Think: Complexity Of Trading
- Bank Nifty May Future Open Interest Volume is at 30.6 lakh with liquidation of 2 Lakh, with increase in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @24969 closed above it and rallied 1000 points.
- 26500 CE is having highest OI @11.7 Lakh resistance at 26500 followed 26800.25000-27000 CE added 1.1 lakh in OI so bears added position at higher level making resistance in range of 26500-26700.
- 25000 PE is having highest OI @9.1 Lakh, strong support at 26200 followed by 25800.25000-27000 PE liquidated 1.22 lakh in OI so bulls having strong support in range of 26000-26200.
- Bank Nifty Futures Trend Deciding level is 26279 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 25892. How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 26250 Tgt 26320,26430 and 26555 (Bank Nifty Spot Levels)
Sell below 26120 Tgt 25050,25930 and 25800 (Bank Nifty Spot Levels)
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