Mercury Declination Reaches Maximun :Bank Nifty Analysis

As Discussed in Last Analysis Now Bank Nifty is forming Bearish ABCD Pattern as shown in below chart with PRZ in the zone of 36143-36185 which is very crucial range, Unable to cross this we can see a fall twards 35300 odd levels in next . Bulls need to move above 36000 for a move back to 36145/36412/36600. Bears will get active below 35805 for a move back to 35693/35480/35334. Bulls failed to move above 36000 and Bears closed below 35805 now waiting for the target of 35693/35480/35334. 19-20 are important astro dates which involves Mercury so expect big voaltility in the market,on 19 Mercury Declination is at Extreme. ABCD pattern is also active and Bank Nifty unable to close above 35937 which is important gann number . Bulls will get active above 35937 for a move back to 36145/36412.

Intraday time for reversal can be at 9:20/10:24/11:40/12:46/1:45/2:35 How to Find and Trade Intraday Reversal Times

Bank Nifty July Future Open Interest Volume is at 20.6 lakh with addition of 1 Lakh, with increase in Cost of Carry suggesting SHORT positions were added today. Bank nifty Rollover cost @34909 closed above it.

36500 CE is having highest OI @7.3 Lakh resistance at 36500 followed 37000. 35000-37000 CE added 5.3 Lakh in OI so bears added position in the zone of 36000-36500.

34500 PE is having highest OI @15.2 Lakh, strong support at 35000 followed by 34500 .34000-35000 PE added 22 Lakh OI so bulls making support in the range of 34500-35000.

Bank Nifty Futures Trend Deciding level is 35867 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 35421 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .

Buy Above 35777 Tgt 35900, 36101 and 36231 (Bank Nifty Spot Levels)