- As Discussed in Last Analysis Till we are below 27700 bears have upper hand. Shorts can be taken below 27389 for a move back to 27141/27059/26876. Bulls will get active above 27700 for a move back to 27887/27971/28100.Bulls were on rampage did 28100 above 27700 as we bounced from gann angle. Bulls now need a close above 28100 for a move back to 28316/28569/28738. Bears will get chance below 27890 for a move back to 27730/27563.
- Intraday time for reversal can be at 10:39/11:25/12:31/1:18/2:01/2:56 How to Find and Trade Intraday Reversal Times
- Bank Nifty Aug Future Open Interest Volume is at 17.9 lakh with liquidation of 1.43 Lakh, with decrease in Cost of Carry suggesting short positions were closed today. Bank nifty Rollover cost @29286 closed below it.
- 28500 CE is having highest OI @2.4 Lakh resistance at 28000 followed 28500. 27000-30000 CE added 2.53 Lakh in OI so bears added position in the zone of 27500-28500.
- 27000 PE is having highest OI @1.3 Lakh, strong support at 27000 followed by 27300.27000-29000 PE added 0.04 Lakh OI so bulls making strong support in the range of 27000-27200.
- Bank Nifty Futures Trend Deciding level is 28026 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 28737 How to trade Nifty Futures and Bank Nifty Futures as per Trend Cha31388 nger Level .
Buy above 28080 Tgt 28224,28368 and 28512 (Bank Nifty Spot Levels)
Sell below 27936 Tgt 27367,27792 and 27648 (Bank Nifty Spot Levels)
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