Bank Nifty Analysis as Supreme Court Decision on Interest Waiver Awaits

As Discussed in Last Analysis Bears need to break 20300 for a move back to 20164/19881/19683. Bulls need to move above 20740 for a move back to for a move back to 20900/21100/21316. Bears were unable to break 20300 and bulls once above 20740 almost did 2 target of 21100,we saw the bounce from the gann angle. Now Supreme Court Decision on Interest Waiver will be declared on Monday so lot of volataltiy will be seen in Bank Nifty, Trade as per Intraday timing provided below. Bulls need to move above 21100 for a move back to 21220/21459/21666/21854. Bears will get active below 20743 for a move back to 20587/20200/19953.

Intraday time for reversal can be at 9:56/10:24/12:24/1/2/2:25 How to Find and Trade Intraday Reversal Times

Bank Nifty Oct Future Open Interest Volume is at 15.3 lakh with addition of 1.3 Lakh, with decrease in Cost of Carry suggesting short positions were closed today. Bank nifty Rollover cost @21225 closed below it.

21500 CE is having highest OI @9.5 Lakh resistance at 21500 followed 22000.21000-23000 CE added 12 Lakh in OI so bears added position in the zone of 21500-21800

20000 PE is having highest OI @10 Lakh, strong support at 20000 followed by 19800.20000-21000 PE added 25 Lakh OI so bulls making support in the range of 19800-20000.

Bank Nifty Futures Trend Deciding level is 20750 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 20744 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level . ;

Buy Above 21070 Tgt 21220,21400 and 21666 (Bank Nifty Spot Levels)