Bank Nifty Aug Expiry Analysis

As Discussed in Last Analysis 28 Aug is important time cycle date,Bulls need to move above 28150 for a move towards 28282/28400/28600. Bears will get active below 27950 for a move back to 27800/27650. 28095 was the high today and once 27950 was broken bears did 27650 on downside, Now Bears need to break 27717 for down move to continue towards 27550/27300. Bulls will get active above 27900 for a move back to 28051/28225. Break of today high and low can easily give 300-500 points.

Intraday time for reversal can be at 9:34/10:14/11:36/12:56/1:32/2:29 How to Find and Trade Intraday Reversal Times

Bank Nifty Aug Future Open Interest Volume is at 14.5 lakh with addition of 1 Lakh, with increase in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @29286 closed below it.

28300 CE is having highest OI @7.6 Lakh resistance at 28300 followed 28500. 27000-30000 CE added 13 Lakh in OI so bears added position in the zone of 28100-28300.

27500 PE is having highest OI @9 Lakh, strong support at 27500 followed by 27300.27000-29000 PE liquidated 10 Lakh OI so bulls making support in the range of 27500-27300.Break of 27500 can see a fast downmove.

Bank Nifty Futures Trend Deciding level is 27854 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 28219 How to trade Nifty Futures and Bank Nifty Futures as per Trend Cha31388 nger Level .

Buy above 27883 Tgt 27967,28051 and 28200 (Bank Nifty Spot Levels)