Bank Nifty Ready for a Rally

As Discussed in Last Analysis If RBI Day Low is not broken we can see a reverse move on upside as per time cycle. Bulls will get active only above 30960 for a move towards 31104/31248/31365/31500. Bears will become active below 30800 for a move back to 30672/30528/30384. Bank Nifty did 1 target on downside,Low made was 30627 almost near to panic low of 30623 formed on 31 May and closed above 30960. 10 is important time cycle date suggesting we could have formed short term bottom on 07 June and in for a rally towards 31365/31500/31800. Bears will get active below 30890 for a move back to 30650/30623/30500. Why Traders Lose Discipline

Intraday time for reversal can be at 9:15/11:22/12:53/2:06 How to Find and Trade Intraday Reversal Times

Bank Nifty June Future Open Interest Volume is at 20.2 lakh with liquidation of 0.24 Lakh, with decrease in Cost of Carry suggesting short positions were closed today. Bank nifty Rollover cost @31540 closed below it.

32000 CE is having highest OI @2.8 Lakh resistance at 31500 followed 31800. 30000-32000 CE added 0.96 Lakh in OI so bears added in the zone of 31500-31800.

30500 PE is having highest OI @2.7 Lakh, strong support at 30500 followed by 30800.30000-32000 PE added 0.77 Lakh OI so bulls making strong support in the range of 30500-30800.

Bank Nifty Futures Trend Deciding level is 30985 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 31391 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .