- As Discussed in Last Analysis Now as per time cycle we should get big move again today. Bulls need to move above 27840 for a move towards 28000/28100. Bears will get active below 27640 for a move back to 27500/27350. We got the big move as per expectation and bank nifty closed above 28100 also. Now Bulls need to do weekly close above 28100 for move towards 28225/28395/28500. Bears will get active below 27940 for a move back to 27800/27640/27525.
- Intraday time for reversal can be at 10:31/11:24/12:38/1:15/2:23 How to Find and Trade Intraday Reversal Times
- Bank Nifty Aug Future Open Interest Volume is at 17.7 lakh with liquidation of 0.69Lakh, with increase in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @29286 closed below it.
- 28500 CE is having highest OI @2.5 Lakh resistance at 28000 followed 28500. 27000-30000 CE added 0.70 Lakh in OI so bears added position in the zone of 27500-28500.
- 27500 PE is having highest OI @2.9 Lakh, strong support at 27300 followed by 27500.27000-29000 PE liquidated 1.4 Lakh OI so bulls making strong support in the range of 27300-27500.
- Bank Nifty Futures Trend Deciding level is 27913 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 28597 How to trade Nifty Futures and Bank Nifty Futures as per Trend Cha31388 nger Level .
Buy above 28150 Tgt 28225,28381 and 28500 (Bank Nifty Spot Levels)
Sell below 27940 Tgt 27800,27650 and 27500 (Bank Nifty Spot Levels)
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