- As Discussed in Last Analysis As today was time cycle date today high 30550 and low 30222 break can easily see a move of 250-350 points. Bulls will get active above 30550 for a move towards 30683/30858/31000. Bears will get active below 30222 for a move back to 30000/29800.We have done price time squaring today till we hold today’s low. Low made was 30242 so bank nifty did not break the low of 18 June @30222 and closed above 30350 again,Bulls will get active above 30417 for a move towards 30550/30683/30858/31000. Bears will get active below 30222 for a move back to 30000/29800.
- Intraday time for reversal can be at 10/11:51/1:53/2:26 How to Find and Trade Intraday Reversal Times
- Bank Nifty June Future Open Interest Volume is at 16.3 lakh with addition of 0.76 Lakh, with decrease in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @31540 closed below it.
- 31000 CE is having highest OI @4.5 Lakh resistance at 31000 followed 31500. 30000-32000 CE added 2 Lakh in OI so bears added in the zone of 31000-31500.
- 30000 PE is having highest OI @2.8 Lakh, strong support at 30400 followed by 30200.30000-32000 PE added 1.20 Lakh OI so bulls making strong support in the range of 30200-30400.
- Bank Nifty Futures Trend Deciding level is 30479 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 31040 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 30396 Tgt 30483,30577 and 30658 (Bank Nifty Spot Levels)
Sell below 30230 Tgt 30130,30042 and 29955 (Bank Nifty Spot Levels)
Upper End of Expiry : 30596
Lower End of Expiry : 30128
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