- As Discussed in Last Analysis Bulls now need to move above 29160 for a move back to 29430/29710/29791. Any close above 29160 can see quick move towards 29791. Bears have there chance below 28800 for a move back towards 28656/28512/28376. We opened with gap up,Now Bulls need a close above 30700 for upmove to continue towards 31000/31360/31600. Bears will get active below 30370 for a move back to 30000/29800/29500. Till we are holding 29971 for we can need rally towards 31800-32000.
- Intraday time for reversal can be at 9:21/10:59/12:04/1:04/1:44/2:54 How to Find and Trade Intraday Reversal Times
- Bank Nifty Sep Future Open Interest Volume is at 12.2 lakh with liquidation of 1 Lakh, with increase in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @27807 closed above it.
- 31000 CE is having highest OI @5.1 Lakh resistance at 31000 followed 30800.30000-31000 CE added 4.4 Lakh in OI so bears added position in the zone of 30800-31000.
- 30000 PE is having highest OI @5.1 Lakh, strong support at 30300 followed by 31000.30000-31000 PE added 103 K Lakh OI so bulls making support in the range of 28500-28800.
- Bank Nifty Futures Trend Deciding level is 30179 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 27652 How to trade Nifty Futures and Bank Nifty Futures as per Trend Cha31388 nger Level .
Buy above 30600 Tgt 30800,30960 and 31104 (Bank Nifty Spot Levels)
Sell below 30370 Tgt 30240,30096 and 29952 (Bank Nifty Spot Levels)
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