Bank Nifty Ready for Big Move

As discussed in Last Analysis Bulls need to move above 31392 for rally to continue towards 31536/31680/31824. Bears will get active below 31180 for a move back to 30990/30700. High made was 31368 so bulls unable to move above 31392,Bears went below 31180 but failed to close below it. As per time cycle we should see big move in Bank Nifty. Bulls need to move above 31343 for rally to continue towards 31484/31600/31741. Bears will get active below 31080 for a move back to 30970/30828/30721.

Intraday time for reversal can be at 9:33/10:27/11:11/1:25/2:28 How to Find and Trade Intraday Reversal Times

Bank Nifty Jan Future Open Interest Volume is at 11.5 lakh with addition of 0.36 Lakh, with increase in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @30990 closed above it.

31500 CE is having highest OI @4.3 Lakh resistance at 31500 followed 31800.30000-33000 CE added 14 Lakh in OI so bears added position in the zone of 31500-31800.

31000 PE is having highest OI @4.7 Lakh, strong support at 31000 followed by 30800.30000-32000 PE added 15 Lakh OI so bulls making support in the range of 31000-30800.

Bank Nifty Futures Trend Deciding level is 31217 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 30747 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .

Buy above 31240 Tgt 31343,31484 and 31600 (Bank Nifty Spot Levels)