- As discussed in Last Analysis Bears now need to break 30500 for a move back 30300/30030. Bulls will get active above 30750 for a move back to 30990/31200. Low made was 30338 but failed to do our target of 30300. As today was an Important astro date Break of High and Low can see 300-400 points move in Bank Nifty. Bulls need to close above 30810 for a move back to 30950/31080/31200/31360. Bears will get active below 30610 for a move back to 30390/30240/30096.
- Intraday time for reversal can be at 9:42/10:43/11:50/2:16 How to Find and Trade Intraday Reversal Times
- Bank Nifty Nov Future Open Interest Volume is at 17.1 lakh with addition of 0.05 Lakh, with decrease in Cost of Carry suggesting short positions were closed today. Bank nifty Rollover cost @29919 closed above it.
- 31000 CE is having highest OI @2.7 Lakh resistance at 31000 followed 31300.30000-32000 CE added 11.6 Lakh in OI so bears added position in the zone of 31000-31300.
- 30500 PE is having highest OI @2.63 Lakh, strong support at 30500 followed by 30300.30000-32000 PE added 6.6 Lakh OI so bulls making support in the range of 30500-30300.
- Bank Nifty Futures Trend Deciding level is 30611 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 30566 How to trade Nifty Futures and Bank Nifty Futures as per Trend Cha31388 nger Level .
Buy above 30810 Tgt 30910,31076 and 31210 (Bank Nifty Spot Levels)
Sell below 30600 Tgt 30500,30350 and 30100 (Bank Nifty Spot Levels)
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