- As Discussed in Last Analysis Plan remains the same Bank Nifty Bulls now need to close above 31794 for the up move to continue towards 32062/32151/32331/32500. Bears will become active below 31520 for a move back to 31349/31173/30996.Based on time cycle good move can be seen in bank nifty in coming 2 days. Bank Nifty bears were able to do 1 target on downside again. We have important time cycle date tomorrow and near Gann Angle Support, Bulls will get active above 31370 for a move back to 31534/31623/31712. Bears will get active below 31260 for a move back to 31100/310001. Why Traders Lose Discipline
- Intraday time for reversal can be at 09:18/11:11/1:29/2:47 How to Find and Trade Intraday Reversal Times
- Bank Nifty June Future Open Interest Volume is at 11.7 lakh with addition of 2.9Lakh, with decrease in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @29964 closed above it.
- 31500 CE is having highest OI @9.3 Lakh resistance at 31500 followed 31700. 28000-31000 CE liquidated 15.5 Lakh in OI so bears covered in the zone of 31300-31500
- 31000 PE is having highest OI @5.7 Lakh, strong support at 31000 followed by 30800.29000-31000 PE liquidated 3.9 Lakh OI so bulls making strong support in the range of 30500-30800.
- Bank Nifty Futures Trend Deciding level is 31410 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 29986 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 31370 Tgt 31470,31600 and 31700 (Bank Nifty Spot Levels)
Sell below 31250 Tgt 31170,31080 and 30900 (Bank Nifty Spot Levels)
Upper End of Expiry : 31564
Lower End of Expiry : 31026
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