- As Discussed in Last Analysis Nifty bears were able to break 26450 and made low of 26344 unable to do our target of 26300 but closed below 26450 suggesting we can move down and do our target of 26300/26210/26100. Bullish above 26500 for a move back to 26640/26773. High made today 26477 so bank nifty bulls were not above to break 26500 and below 26450 bears were active and made low of 26322 near our target of 26322. Plan remains the same Bullish above 26500 for a move back to 26640/26773. Below 26450 bears can move down and do our target of 26300/26210/26100. 19 is an important time cycle date. Bank Important intraday time for reversal can be at 12:38/1:41.What is a reasonable objective for a day trader?
- Bank Nifty June Future Open Interest Volume is at 27.5 lakh with addition of 0.80 Lakh, with decrease in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @26408 closed above it
- 27000 CE is having highest OI @14.3 Lakh resistance at 27000 followed 27500.26000-28000 CE added 2.5 Lakh in OI so bears added position at higher level still resistance in range of 26700-26900, High made today was 26765.
- 26000 PE is having highest OI @8.8 Lakh, strong support at 26200 followed by 26000.26000-28000 PE added 0.22 lakh in OI so bulls having strong support in range of 26100-26200.
- Bank Nifty Futures Trend Deciding level is 26375 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 26492. How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 26450 Tgt 26555,26666 and 26777 (Bank Nifty Spot Levels)
Sell below 26380 Tgt 26320,26210 and 26150 (Bank Nifty Spot Levels)
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