Bank Nifty Ready for Big Move

As Discussed in Last Analysis Bank Nifty Bulls now need to close above 31794 for the upmove to continue towards 32062/32151/32331/32500. Bears will become active below 31520 for a move back to 31349/31173/30996. Bears were able to do 1 target on downside @ 31349 and bounced back to close above 31520. Plan remains the same Bank Nifty Bulls now need to close above 31794 for the up move to continue towards 32062/32151/32331/32500. Bears will become active below 31520 for a move back to 31349/31173/30996.Based on time cycle good move can be seen in bank nifty in coming 2 days Why Traders Lose Discipline

Intraday time for reversal can be at 10:03/11:10/1:34/2:37 How to Find and Trade Intraday Reversal Times

Bank Nifty May Future Open Interest Volume is at 8.8 lakh with addition of 4.7 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @29964 closed above it.

31500 CE is having highest OI @3.9 Lakh resistance at 31500 followed 31800. 28000-31000 CE added 4 Lakh in OI so bears added in the zone of 31300-31500

30500 PE is having highest OI @4.6 Lakh, strong support at 30500 followed by 30000.29000-31000 PE added 2.2 Lakh OI so bulls making strong support in the range of 30000-30500.

Bank Nifty Futures Trend Deciding level is 31506 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 29921 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .