- As Discussed in Last Analysis Bank Nifty bounced from gann angle, and almost did our 1 target of 30650 as high made was 30635. Till we are holding 30500 we can move towards 30800. Bears have there chance below 30430 for a move back to 30343/30250/30150/30000.High made today was 30799.7 exactly did our target of 30800 :). 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.
- Intraday time for reversal can be at 9:49/12:12/1:28/2:37 How to Find and Trade Intraday Reversal Times
- Bank Nifty July Future Open Interest Volume is at 16.5 lakh with addition of 1 Lakh, with increase in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @31207 closed below.
- 31000 CE is having highest OI @4.8 Lakh resistance at 31000 followed 31500. 30000-32000 CE added 0.14 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 30500 followed by 30300.30000-32000 PE added 3.4 Lakh OI so bulls making strong support in the range of 30300-30500.
- Bank Nifty Futures Trend Deciding level is 30699 (For Intraday Traders). BNF Trend Changer Level (Positional Traders)31024 How to trade Nifty Futures and Bank Nifty Futures as per Trend Cha31388 nger Level .
Buy above 30800 Tgt 30870,30970 and 31065 (Bank Nifty Spot Levels)
Sell below 30666 Tgt 30570,30465 and 30333 (Bank Nifty Spot Levels)
Upper End Expiry : 30925
Lower End of Expiry :30545
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