- As Discussed in Last Analysis Bears will get active below 28850 for a move back to 28766/28682/29597/28512. Bank Nifty broke 28850 and bears got an upper hand and did 2 target on downside and waiting for the downside target of 28368/28224/28134. 28100-28134 is important Demand Zone. THE MOST NEGLECTED TRADING DISCIPLINE
- Intraday time for reversal can be at 10:06/12:37/2:35 How to Find and Trade Intraday Reversal Times
- Bank Nifty May Future Open Interest Volume is at 15.5 lakh with liquidation of 0.27 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @29964 closed below it.
- 29500 CE is having highest OI @2.3 Lakh resistance at 29200 followed 29500. 28000-31000 CE added 1.8 Lakh in OI so bears added in the zone of 29300-29500
- 28500 PE is having highest OI @5.3 Lakh, strong support at 28500 followed by 28300.29000-31000 PE liquidated 2 Lakh OI so bulls making strong support in the range of 28300-28500.
- Bank Nifty Futures Trend Deciding level is 28945 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 29600 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 28710 Tgt 28793,28878 and 28963 (Bank Nifty Spot Levels)
Sell below 28620 Tgt 28539,28455 and 28371 (Bank Nifty Spot Levels)
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