Ideas and Forecasts on NIFTY BANK

• As discussed in last analysis We should get good move in next 2 trading session based on time cycle analysis and possible price time squaring.Bulls need to close above 21910 for a move back to 22110/22340/22570/22800. Bears will get active below 21850 for a move back to 21640/21400/21170.Another gap up opening is seen,we got good move as per astro cycle but most of price action is done in gap and no major movement is seen during the day. Today was an important Astro date so today high and low will decide the next 300-500 points move in bank nifty. Bulls now need to move above 22340 for a move back to 22570/22800. Bears will get active below 22110 for a move back to 21870/21640
  

• Intraday time for reversal can be at 9:27/10:48/11:51/1:00/1:54/2:22 How to Find and Trade Intraday Reversal Times

• Bank Nifty July Future Open Interest Volume is at 12.4 lakh with liquidation of 1 Lakh, with increase in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @21720 closed above it.

• 23000 CE is having highest OI @8 Lakh resistance at 22500 followed 23000.20000-23000 CE added 4 Lakh in OI so bears added position in the zone of 21500-22000.

• 21500 PE is having highest OI @10 Lakh, strong support at 21500 followed by 21000.20000-23000 PE added 4 Lakh OI so bulls making support in the range of 21000-21500.

• Bank Nifty Futures Trend Deciding level is 22254 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 21622 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level . ;

Buy Above 22225 Tgt 22343,22484 and 22600 (Bank Nifty Spot Levels)

Sell Below 22110  Tgt 22020,21885 and  21600  (Bank Nifty Spot Levels)

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