- As Discussed in Last Analysis Now fall can extend towards 29000-28900 range where strong support lies. Low made was 28951 so we did our target of 29000, Zone of 28900-289851 is strong support zone, Fresh short should be taken below 28900 only also tomorrow is important astro date , If we do not break 28900 which is a gann cycle number we can see the relief rally. Bulls will get active above 29076 for a move back to 29225/29376. Beras will get active below 28860 for a move back to 28666/28485. How Comfortable you are with your trading ?
- Intraday time for reversal can be at 10:33/12:04/2:38 How to Find and Trade Intraday Reversal Times
- Bank Nifty May Future Open Interest Volume is at 18.2 lakh with liquidation of 0.18 Lakh, with increase in Cost of Carry suggesting short positions were closed today. Bank nifty Rollover cost @29964 closed below it.
- 30500 CE is having highest OI @3 Lakh resistance at 29500 followed 29800. 29000-31000 CE added 0.56 Lakh in OI so bears added in the zone of 29500-29800
- 29000 PE is having highest OI @3.7 Lakh, strong support at 29000 followed by 28800.29000-31000 PE added 0.54 Lakh OI so bulls making strong support in the range of 28900-29000.
- Bank Nifty Futures Trend Deciding level is 29263 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 29811 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 29000 Tgt 29064,29180 and 29300 (Bank Nifty Spot Levels)
Sell below 28950 Tgt 28860,28760 and 28666 (Bank Nifty Spot Levels)
Upper End of Expiry: 29231
Lower End of Expiry : 28757
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