- As Discussed in Last Analysis Bank Nifty Bulls will get active above 28270 for a move back to 28450/28666/28900. Bears will get active below 28140 for a move back to 28100/27920/27800. Low made was 27839 so we almost did all our target on downside.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.
- Intraday time for reversal can be at 9:41/10:39/11:48/12:50/2:02 How to Find and Trade Intraday Reversal Times
- Bank Nifty Aug Future Open Interest Volume is at 14.3 lakh with liquidation of 0.59 Lakh, with increase in Cost of Carry suggesting short positions were closed today. Bank nifty Rollover cost @29286 closed below it.
- 29000 CE is having highest OI @5 Lakh resistance at 28500 followed 29000. 27000-30000 CE added 2 Lakh in OI so bears added position in the zone of 28000-28500.
- 27500 PE is having highest OI @3.9 Lakh, strong support at 28000 followed by 27500.27000-29000 PE added 0.34 Lakh OI so bulls making strong support in the range of 27300-27500.
- Bank Nifty Futures Trend Deciding level is 27980 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 28437 How to trade Nifty Futures and Bank Nifty Futures as per Trend Cha31388 nger Level .
Buy above 28020 Tgt 28125,28215 and 28388 (Bank Nifty Spot Levels)
Sell below 27920 Tgt 27810,27700 and 27600 (Bank Nifty Spot Levels)
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