Bank Nifty August Series Expiry Analysis

• As Discussed in Last Analysis  Now bulls need to hold 28225 on closing basis for upmove to continue towards 28370/28512. Bearish below 28140 for a move back to 28000/27920/27739. Tomorrow is important trend change date as per current time cycle. Bank Nifty made low of 28167 and closed at 28225 so both number worked perfectly , As we have time cycle date today so break of 28151 we should easily see a move of 150-200 points on downside  28000/27920/27739 and if break of today high 28344 we can again see move of 150-200 points towards 28512/28656.  Important intraday time for reversal can be at 11:33/2:25. Honored to be part Online Trading Summit

 

• Bank Nifty Aug Future Open Interest Volume is at 13.2 lakh with liquidation of 1.8 Lakh, with increase in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @27128 closed above it.
  

• 28500 CE is having highest OI @12.1 Lakh resistance at 28400 followed 28500.  27500-28500 CE added 4.4 Lakh in OI so bears added at higher level still resistance in range of 28400-28500.

 

• 28000 PE is having highest OI @10.7 Lakh, strong support at 28000 followed by 27800.28000-29000 PE liquidated 2.1 lakh OI so bulls having strong support in range of 27900-28000.
  

 

• Bank Nifty Futures Trend Deciding level is 28302 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 27970.  How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level . 

 

Buy above 28250 Tgt 28310,28370 and 28500 (Bank Nifty Spot Levels)

Sell below 28160 Tgt 28100,28050 and 27970(Bank Nifty Spot Levels)