- As Discussed in Last Analysis Bank Nifty Bulls will get active above 28100 for a move back to 28225/28450/28666/28900. Bears will get active below 28040 for a move back to 27880/27797/27600. Low made was 27666 and high made was 28098 so we did not breach 28100 and saw a good decline. We are back to gann angle support as shown in below chart, BUlls now need to move above 27850 for a move back to 27990/28100. Bears will get active below 27666 for a move back to 27500/27333. Very Important time cycle date tomorrow.
- Intraday time for reversal can be at 9:37/11:28/12:50/1:58 How to Find and Trade Intraday Reversal Times
- Bank Nifty Aug Future Open Interest Volume is at 15.7 lakh with addition of 1.37 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @29286 closed below it.
- 29000 CE is having highest OI @5.9 Lakh resistance at 28500 followed 29000. 27000-30000 CE added 5.9 Lakh in OI so bears added position in the zone of 28000-28500.
- 27500 PE is having highest OI @3.3 Lakh, strong support at 27500 followed by 27300.27000-29000 PE added 0.42 Lakh OI so bulls making strong support in the range of 27300-27500.
- Bank Nifty Futures Trend Deciding level is 27882 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 28407 How to trade Nifty Futures and Bank Nifty Futures as per Trend Cha31388 nger Level .
Buy above 27850 Tgt 27989,28100 and 28260 (Bank Nifty Spot Levels)
Sell below 27666 Tgt 27555,27395 and 27225 (Bank Nifty Spot Levels)
Upper End of Expiry : 27987
Lower End of Expiry : 27492
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