- As Discussed in Last Analysis 02 Aug is important time cycle date so we can do price time squaring if we close above 28525 tomorrow. Bulls need a close above 28420 for a move towards 28552/28636/28721/28900. Bears will get active below 28215 for a move back to 28131/28047/27879. Bank Nifty Took Support at gann angle and formed DOJI on time cycle date 02 AUg. Now Bulls need to move above 28225 for a move back to 28400/28578/28700. Bears will get active below 28100 for a move back to 27900/27666.
- Intraday time for reversal can be at 10:36/11:28/12:34/1:21/2:09 How to Find and Trade Intraday Reversal Times
- Bank Nifty July Future Open Interest Volume is at 17.2 lakh with liquidation of 1.67 Lakh, with decrease in Cost of Carry suggesting short positions were closed today. Bank nifty Rollover cost @29286 closed below it.
- 29000 CE is having highest OI @4.8 Lakh resistance at 29000 followed 29500. 28000-30000 CE added 1.75 Lakh in OI so bears added position in the zone of 29000-29500.
- 28000 PE is having highest OI @2.3 Lakh, strong support at 28100 followed by 28000.28000-29000 PE liquidated 0.42 Lakh OI so bulls making strong support in the range of 28100-28200.
- Bank Nifty Futures Trend Deciding level is 28320 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 28981 How to trade Nifty Futures and Bank Nifty Futures as per Trend Cha31388 nger Level .
Buy above 28230 Tgt 28355,29439 and 28608 (Bank Nifty Spot Levels)
Sell below 28120 Tgt 28040,27956 and 27873 (Bank Nifty Spot Levels)
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