- As discussed in Last Analysis Bearish below 24100 for a move towards 23963/23755. Low made today was 23925 so bear did the first target of 23963 and also closed below 24100 so opening gates for 23755. Bullish above 24200 for a move towards 24450-25500. Bank Nifty move above 24200 was mostly like an Emotional Spike but failed to do the target of 24450 and triggering the Stoploss. Bears got active below 24100 and did 23963 and now waiting for 23755/23633/23540 Day-Traders Lose Big, Still Live in Denial
- Bank Nifty Aug Future Open Interest Volume is at 21.5 lakh with addition of 1.6 Lakh, with decrease in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @24665 closed below it.
- 25000 CE is having highest OI @11.7 Lakh resistance at 24500 followed 25000. 23500-26000 CE added 2.1 lakh so bears added aggressively in 24000 CE.
- 24000 PE is having highest OI @10.9 Lakh, strong support at 24000 followed by 23800, Bulls added 1.6 Lakh position in OI in range of 24000-26000 making strong base in range of 24000-23800. If we are unable to close above 24000 for 1 hour tomorrow we can see fast fall towards 23755/23540.
- Bank Nifty Futures Trend Deciding level is 24116 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 24629 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 24050 Tgt 24100,24170 and 24260(Bank Nifty Spot Levels)
Sell below 23880 Tgt 23800,23730 and 23650 (Bank Nifty Spot Levels)