Bank Nifty Bears continue to make merry below 28151,EOD Analysis

As Discussed in Last Analysis We got the expected 150 points down move below the time cycle low of 28151.Till we are below 28151 bears have upper hand can push index towards 28000/27920/27739.Bullish above 28225 for a move back to 28344/28512/28656. High made was 28157 so bulls unable to close above 28151 and beers again got 200 points from 28151. Just a word of caution Good GDP Figure do not mean market needs to go up,Try to focus on levels to trade.Bears will get momentum below 27920 can push index towards 27784/26656/26500.Bullish above 28180 for a move back to 28225/28344/28512/28656. Important intraday time for reversal can be at 9:23/2:05. Honored to be part Online Trading Summit

Bank Nifty Sep Future Open Interest Volume is at 15.9 lakh with liquidation of 0.47 Lakh, with increase in Cost of Carry suggesting short positions were closed today. Bank nifty Rollover cost @28307 closed below it.

29000 CE is having highest OI @6.9 Lakh resistance at 28500 followed 29000. 27000-29000 CE added 1.2 Lakh in OI so bears continue to add at 28500-29000.

27000 PE is having highest OI @7.3 Lakh, strong support at 27800 followed by 27300.27000-29000 PE added 2.7 lakh OI so bulls having strong support in range of 27700-27500.

Bank Nifty Futures Trend Deciding level is 28201 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 28195. How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .

Buy above 28070 Tgt 28150,28225 and 28370 (Bank Nifty Spot Levels)