- As Discussed in Last Analysis Bulls now need to move above 30800 for a move towards 30940. Range of 30990-31020 is strong zone of resistance. Bears have there chance below 30600 for a move back to 30460/30343/30250/30150/30000. Bears were able to do 2 target on downside and we are back to gann angle support zone as in below chart. Any break of 30333 can see fast move towards 30100.Above 30525 bulls can rally back to 30650/30800.
- Intraday time for reversal can be at 9:20/11:59/12:54/2:15 How to Find and Trade Intraday Reversal Times
- Bank Nifty July Future Open Interest Volume is at 16.6 lakh with addition of 1.1 Lakh, with decrease in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @31207 closed below.
- 31000 CE is having highest OI @6.5 Lakh resistance at 31000 followed 31500. 30000-32000 CE added 14.7 Lakh in OI so bears added position in the zone of 31000-31500.
- 30000 PE is having highest OI @4.2 Lakh, strong support at 30300 followed by 30000.30000-32000 PE added 2.6 Lakh OI so bulls making strong support in the range of 30300-30500.
- Bank Nifty Futures Trend Deciding level is 30560 (For Intraday Traders). BNF Trend Changer Level (Positional Traders)30995 How to trade Nifty Futures and Bank Nifty Futures as per Trend Cha31388 nger Level .
Buy above 30525 Tgt 30610,30700 and 30800 (Bank Nifty Spot Levels)
Sell below 30370 Tgt 30300,30150 and 30000 (Bank Nifty Spot Levels)
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