Bank Nifty Weekly Expiry Analysis

As discussed in last analysis 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. We are near a perfect set up for explosive move as we have astro date today with Inside Bar formation.Bulls need to move above 23940 for a move back to 24124/24300/24500. Bears will get active below 23700 for a move back to 23596/23317/23150.

Intraday time for reversal can be at 9:22/10:12/12:18/1:10/2:35 How to Find and Trade Intraday Reversal Times

Bank Nifty Sep Future Open Interest Volume is at 13.9 lakh with liquidation of 0.54 Lakh, with decrease in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @23392 closed below it.

24300 CE is having highest OI @12 Lakh resistance at 24300 followed 24600.24000-26000 CE added 18 Lakh in OI so bears added position in the zone of 24500-26000

23500 PE is having highest OI @12 Lakh, strong support at 23500 followed by 23300.23000-25000 PE added 23 Lakh OI so bulls making support in the range of 23300-23500.

Bank Nifty Futures Trend Deciding level is 23724 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 23921 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level . ;

Buy Above 23930 Tgt 24000,24138 and 24280 (Bank Nifty Spot Levels)