Bank Nifty Analysis after Maharashtra Political Drama

As discussed in Last Analysis As Mercury Turns Direct today so we should see good move in Bank Nifty in next 2 days,Fresh Long should be taken above 31575 for a move back to 31783. Bears will get active below 30200 for a move back to 31077/30950. We got the expected move below 30200 and we did 1 target of 31077 so astro combined with price is a lethal combo. Now Bull need to move above 31225 to be back in game for a move back to 31400/31551/31800. Bears will get active below 31000 for a move back to 30848/30640.

Intraday time for reversal can be at 10:30/11:15/2:18 How to Find and Trade Intraday Reversal Times

Bank Nifty Nov Future Open Interest Volume is at 16.4 lakh with liquidation of 1.49 Lakh, with increase in Cost of Carry suggesting short positions were closed today. Bank nifty Rollover cost @29919 closed above it.

31500 CE is having highest OI @4 Lakh resistance at 31500 followed 31800.30000-32000 CE added 8 Lakh in OI so bears added position in the zone of 31500-31700.

30500 PE is having highest OI @4.2 Lakh, strong support at 30800 followed by 30500.30000-32000 PE added 2 Lakh OI so bulls making support in the range of 30800-31000.

Bank Nifty Futures Trend Deciding level is 31165 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 30797 How to trade Nifty Futures and Bank Nifty Futures as per Trend Cha31388 nger Level .

Buy above 31200 Tgt 31312,31400 and 31525 (Bank Nifty Spot Levels)