- As discussed in Last Analysis Bank Nifty reacted from Gann Angle Resistance and once below 29210 bears did 29000 and now bears need to break 29000 for the fall to continue towards 28780/28500/28376. Bulls will get active above 29270 for a move back to 29500/29700. Bank Nifty bulls bears both got whipsawed as today is small trading session for 1 hour so bulls need to move above 29500 for a move back to 29800/30100. Bears will get active below 29250 for a move back to 29100/28900.
- Intraday time for reversal can be at 6:45 How to Find and Trade Intraday Reversal Times
- Bank Nifty Nov Future Open Interest Volume is at 3.3 lakh with addition of 0.76 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @30213 closed below it.
- 29500 CE is having highest OI @3.3 Lakh resistance at 29500 followed 30000.28000-31000 CE liquidated 0.4 Lakh in OI so bears covered position in the zone of 29300-29500.
- 28500 PE is having highest OI @3.4 Lakh, strong support at 28800 followed by 28500.27000-30000 PE added 1.9 Lakh OI so bulls making support in the range of 28800-29000.
- Bank Nifty Futures Trend Deciding level is 29201 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 28925 How to trade Nifty Futures and Bank Nifty Futures as per Trend Cha31388 nger Level .
Buy above 29452 Tgt 29590,29777 and 29900 (Bank Nifty Spot Levels)
Sell below 29250 Tgt 29100,28900 and 28777 (Bank Nifty Spot Levels)
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