- As Discussed in Last Analysis Bank Nifty bulls were able to achieve all the upside target above 27920. Bulls need to close above 28064 for the upmove to continue towards 28225/28450. Bearish below 27888 for a move back to 27740/27650/27496. High made today was 28019 so bulls were not able to capture 28064, Bearish target were also not done, 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.Important intraday time for reversal can be at 9:36/2:18. Solution of Trading Mistake which Retail Traders Make
- Bank Nifty Aug Future Open Interest Volume is at 23.8 lakh with liquidation of 1.8 Lakh, with increase in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @27128 closed above it.
- 28000 CE is having highest OI @5.2 Lakh resistance at 28000 followed 28500.26500-28500 CE added 2.12 Lakh in OI so bears added position at higher level still resistance in range of 28000-28100.
- 27500 PE is having highest OI @8.4 Lakh, strong support at 27500 followed by 27400.26500-28500 PE added 1.5 lakh OI so bulls having strong support in range of 27500-27600.
- Bank Nifty Futures Trend Deciding level is 27932 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 27846. How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 27888 Tgt 27966,28064 and 28200 (Bank Nifty Spot Levels)
Sell below 27800 Tgt 27739,27666 and 27555 (Bank Nifty Spot Levels)
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