Bank Nifty Analysis Mercury goes out of Combust

As discussed in last analysis We will see AGR Case outcome tommrow around 11:30 so trade very cautiously. Bulls need to move above 23940 for a move back to 24124/24308/24500. Bears will get active below 23600 for a move back to 23385/23100/22900. Bulls were able to do 1 target on upside,Bears got whipsawed. Mercury is going out combust tommrow suggesting another good move coming. Bulls need to move above 23850 for a move back to 24000/24200/24500. Bears will get active below 23600 for a move back to 23480/23385/23100.

Intraday time for reversal can be at 9:40/11/12:18/1:10/2:39 How to Find and Trade Intraday Reversal Times

Bank Nifty Sep Future Open Interest Volume is at 14.4 lakh with addition of 0.15 Lakh, with increase in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @23392 closed below it.

24500 CE is having highest OI @10 Lakh resistance at 24500 followed 25000.24000-26000 CE added 8 Lakh in OI so bears added position in the zone of 24500-26000

23000 PE is having highest OI @10 Lakh, strong support at 23000 followed by 22500.23000-25000 PE added 13 Lakh OI so bulls making support in the range of 23500-24000.

Bank Nifty Futures Trend Deciding level is 23858 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 23970 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level . ;

Buy Above 23850 Tgt 24000,24183 and 24400 (Bank Nifty Spot Levels)