- As Discussed in Last Analysis Bears will get active below 29088 for a move back to 28944/28800/28656. Bulls above 29200 can push towards 29376/29520/29664.Bank Nifty is doing Price Time Squaring if 29078 is protected. Bulls got whipsawed above 29200 and bears were able to do 1 target on downside. Till we are below 29000 bears have upper hand can push bank nifty towards 28800/29640. Bulls will get active above 29030 for a move back to 29180/29350.
- Intraday time for reversal can be at 9:19/11:34/12:44/1:37/2:54
- How to Find and Trade Intraday Reversal Times
- Bank Nifty July Future Open Interest Volume is at 10 lakh with addition of 2 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @31207 closed below.
- 29300 CE is having highest OI @6.6 Lakh resistance at 29300 followed 29500. 28500-295000 CE added 13 Lakh in OI so bears added position in the zone of 29000-29200.
- 28800 PE is having highest OI @4.5 Lakh, strong support at 28800 followed by 28600.28500-29000 PE added 1.2 Lakh OI so bulls making strong support in the range of 28800-28900.
- Bank Nifty Futures Trend Deciding level is 29042 (For Intraday Traders). BNF Trend Changer Level (Positional Traders)30685 How to trade Nifty Futures and Bank Nifty Futures as per Trend Cha31388 nger Level .
Buy above 29025 Tgt 29150,29252 and 29400 (Bank Nifty Spot Levels)
Sell below 28900 Tgt 28798 ,29700 and 28656 (Bank Nifty Spot Levels)
Upper End of Expiry:29145
Lower End of Expiry:28759
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