Bank Nifty Sep Expiry Analysis

• As Discussed in Last Analysis   It was a volatile ride today but end of the day Bull emerged victorious after a continuous bashing by bears for last few days. Bulls did a perfect price time squaring today, Now Bulls need to hold 25050 for the up move to continue towards 25488/25632/25770. Bearish below 25000 for a move back to 24912/24768/24624.  Low made today was 25197 so bulls held on to 25050, Bullish above 25400 for a move back to 25488/25632/25770. Bearish below  25120 for a move back to 25040/24912/24768/24624. Important intraday time for reversal can be at 9:15/10:55/1:46/. Volatility is here- Tips For Traders In Volatile Markets

 

• Bank Nifty Sep Future Open Interest Volume is at 12.2 lakh with liquidation of 3.1 Lakh, with decrease in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @28307 closed below it and corrected 2800 points.
  

• 26000 CE is having highest OI @8.3 Lakh resistance at 25500  followed 25800.  25000-27000 CE liquidated 3.4 Lakh in OI so bears ran for cover in 25500-25600 CE making suggesting short term bottom in place.

 

• 25000 PE is having highest OI @7.6 Lakh, strong support at 25100 followed by 25000.25000-27000 PE added9 lakh OI so bulls having strong support in range of 25000-25100.
  

 

• Bank Nifty Futures Trend Deciding level is 25380 For Intraday Traders). BNF Trend Changer Level (Positional Traders) 25215  How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level . 

 

Buy above 25410 Tgt 25496,25598 and 25666 (Bank Nifty Spot Levels)

Sell below 25300 Tgt 25210,25100 and 24920 (Bank Nifty Spot Levels)