Bank Nifty ready for Big move, EOD Analysis

• As discussed in Last Analysis   Fresh longs should be taken above 25000 for a move towards 25200-25284. Bearish below 24624 for a move towards 24480-24300.  High made today was 25168 so bank nifty reached near our target of 25200 but did not achieve it,hopefully will be done tomorrow. Close above 25200 will push bank nifty towards 25344/25500. As we have new time cycle starting today so today’s low of 24828 should be held till 07 Aug for Bulls to have upper hand and move towards 25200/25344/25560. Bearish below 25000 for a move towards 24840/24440. High made today was 25198, so bulls  still unable to close above 25200 and low made was 24926 which was a spike down after policy but close above 25000 so bulls continue to hold 25000 and bears continue to close below 25200, As per time analysis we should see big move on 03-04 Aug. Any close above 25200 can see fast rally towards 25344/25500. Till Time cycle low of 24828 is holding bulls have upper hand and rally towards 25676 which is gann angle resistance. Bearish below 25000 for a move towards 24840/24440.   What not to do in Bull Market

• Bank Nifty Aug Future Open Interest Volume is at 25.5 lakh with addition of 0.75 Lakh, with decrease in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @24665
  

• 25500 CE is having highest OI @4.2 Lakh resistance at 25500 followed 25300. 24000-26000 CE added 1 lakh so Bears added major  position in 25000-25500 range.
  

• 24000 PE is having highest OI @5.7 Lakh, strong support at 24500 followed by 24000, Bulls added 0.85 Lakh position in OI in range of 24000-26000 making strong base in range of 24000-24200.

• Bank Nifty Futures Trend Deciding level is 25165 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 25055.  How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level . 

Buy above 25100 Tgt 25190,25330 and 25460(Bank Nifty Spot Levels)

Sell below 25000 Tgt 24920,24830 and 24700 (Bank Nifty Spot Levels)

Click Here to Like Facebook Page get Real time updates

Click Here to Join me on Twitter