- As Discussed in Last Analysis Now Bull need a close above 27920 for a move back to 28064/28225/28350. Bearish below 27740 for a move back to 27650/27496. Bank Nifty opened with gap up above 27920 made low of 27953 and did 1 target of 28064 and closed above it. Now Bulls need a close above 28224 an important vedic number for the rally to continue towards 28320/28404/28488. Bearish below 28050 for a move towards 27984/27900/27784.Important intraday time for reversal can be at 10:40/1:19. Solution of Trading Mistake which Retail Traders Make
- Bank Nifty Aug Future Open Interest Volume is at 24.5 lakh with addition of 0.63 Lakh, with decrease in Cost of Carry suggesting short positions were closed today. Bank nifty Rollover cost @27128 closed above it.
- 28500 CE is having highest OI @4.2 Lakh resistance at 28300 followed 28500.26500-28500 CE liquidated 1.65 Lakh in OI so bears covered position at higher level still resistance in range of 28300-28400.
- 27500 PE is having highest OI @9.8 Lakh, strong support at 27500 followed by 27400.26500-28500 PE added 1.2 lakh OI so bulls having strong support in range of 27500-27600.
- Bank Nifty Futures Trend Deciding level is 28122 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 27864. How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 28180 Tgt 28224,28300 and 28368 (Bank Nifty Spot Levels)
Sell below 28064 Tgt 28000,27920 and 27784 (Bank Nifty Spot Levels)
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