Bank Nifty Technical Analysis for 03 Aug

As discussed in last analysis Bank Nifty bears have broken gann line as shown in below chart,and we have monthly close tommorw Bulls and Bears will fight for 21357. Bank Nifty Bulls need to move above 21666 for a move towards 21786/22000. Bears will get active below 21555 for a move towards 21357/21154/21000. Low made was 21375 so bulls held on to 21357 level for bank nifty showing bullish move can be seen in August month. 03 Aug is important astro date as Mars at Perihelion so good move will be seen in next 2 trading sessions. Bank Nifty Bulls need to move above 21630 for a move towards 21786/22000. Bears will get active below 21500 for a move towards 21357/21154/21000.

Intraday time for reversal can be at 9:15/10:34/11:21/12:32/2:42 How to Find and Trade Intraday Reversal Times

Bank Nifty Aug Future Open Interest Volume is at 13.5 lakh with addition of 4.3 Lakh, with increase in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @22013 closed below it.

23000 CE is having highest OI @10 Lakh resistance at 22500 followed 23000.21000-23000 CE added 14 Lakh in OI so bears added position in the zone of 22000-22500.

21000 PE is having highest OI @5 Lakh, strong support at 21000 followed by 20500.21000-23000 PE added 12 Lakh OI so bulls making support in the range of 21000-21300.

Bank Nifty Futures Trend Deciding level is 21618 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 21751 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level . ;

Buy Above 21630 Tgt 21730,21839 and 22000 (Bank Nifty Spot Levels)