- As Discussed in Last Analysis Today we have bounced from gann angle and for trend reversal to take place we need to see a close above 29060. Also we have important astro event lined up for next 2 days as discussed in below video. Bulls will get active above 28900 for a move towards 29040/29262/29430. Bears will get active below 28743 for a move back to 28666/28512/28368. Bulls got whipsawed and unable to close above trend reversal point of 29060, Bears got 1 target on downside as soon 28743 was broken, and once we are below 28500 we can see swift fall towards 28376/28225/28134. Range of 28100-28140 is important support zone. Bulls will get active above 28730 for a move back to 28900/29040. THE MOST NEGLECTED TRADING DISCIPLINE
- Intraday time for reversal can be at 10:02/12:08/2:31 How to Find and Trade Intraday Reversal Times
- Bank Nifty May Future Open Interest Volume is at 14.9 lakh with liquidation of 0.07 Lakh, with decrease in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @29964 closed below it.
- 30000 CE is having highest OI @3 Lakh resistance at 29300 followed 29500. 28000-31000 CE added 0.45 Lakh in OI so bears added in the zone of 29000-29300
- 29000 PE is having highest OI @6.1 Lakh, strong support at 28500 followed by 28300.29000-31000 PE added 0.30 Lakh OI so bulls making strong support in the range of 28500-28600.
- Bank Nifty Futures Trend Deciding level is 28867 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 29491 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 28720 Tgt 28802,28888 and 28972 (Bank Nifty Spot Levels)
Sell below 28540 Tgt 28464,28380 and 28225 (Bank Nifty Spot Levels)
Upper End of Expiry: 29045
Lower End of Expiry :28187
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