- As Discussed in Last Analysis Bulls failed to close above 27500 on Friday and we saw the big fall today we went below 27200 but failed to close our target of 27040 and closed exactly at 27201. As we have important trend change date today so bulls need to close above 27250 for a move back to 27356/27500/27656. Bearish below 27180 for a move back to 27060/26980/26898.When Price and time meets big move happen, so we had an important time cycle date today combined with the break of 27180/gann angle we saw a big downside move which did all our target on downside. Any move below 26772 can see fast move towards 26640 which is an important vedic number, If held we can see relief rally else more downside towards 26530/26352/26208. Important intraday time for reversal can be at 10:12/1:32. Sneak Peek into Online Trading Summit
- Bank Nifty Sep Future Open Interest Volume is at 17.9 lakh with addition of 1.4 Lakh, with increase in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @28307 closed below it and corrected 1000 points.
- 27500 CE is having highest OI @5.4 Lakh resistance at 27500 followed 27800. 26000-28000 CE added 4.8Lakh in OI so bears continue to add at 27000-27500 CE.
- 26500 PE is having highest OI @4.5 Lakh, strong support at 26700 followed by 26500.27000-29000 PE liquidated 1.91 lakh OI so bulls having strong support in range of 26500-26600.
- Bank Nifty Futures Trend Deciding level is 27220 For Intraday Traders). BNF Trend Changer Level (Positional Traders) 27706 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 26896 Tgt 26977,27060 and 27159 (Bank Nifty Spot Levels)
Sell below 26770 Tgt 26700,26640 and 26496(Bank Nifty Spot Levels)
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