Bank Nifty Rallies 200 points above 26260,EOD Analysis

• As Discussed in Last Analysis  Bank Nifty formed an inside bar today before crucial trend change date of 05-06 Jul, Bank Nifty below 26200 can again see correction till 26064/26000/25920. Bullish above 26260 for a move back to 26352/26496. Bank Nifty went below but failed to do our target but once above 26260 did our both target as high made was 27480 almost near to our target of 26496. Now bulls need a close above 26500 for a move back to 26569/26640/26784. Bearish below 26350 for a move back to 26210/26064. We have important time cycle date today good move can be seen in coming 2 days. Bank Important intraday time for reversal can be at 10:22/1:43.Trading Quotes Every Trader should read

• Bank Nifty July Future Open Interest Volume is at 21.3  lakh with addition of 1.15 Lakh, with decrease in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @26490 closed below it.
  

• 27000 CE is having highest OI @5.8 Lakh resistance at 27000 followed 27300.26000-28000 CE liquidated 0.26 Lakh in OI so bears covered minor  position at higher level  still resistance in range of 26500-26700

 

• 25500 PE is having highest OI @6.9 Lakh, strong support at 26000  followed by 25800.26000-28000 PE saw  just 0.42 OI so bulls having strong support in range of 26000-25800.
  

 

• Bank Nifty Futures Trend Deciding level is 26293 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 26280.  How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level . 

Buy above 26500 Tgt 26569,26640 and 26760 (Bank Nifty Spot Levels)

Sell below 26350 Tgt 26220,26132 and 26064(Bank Nifty Spot Levels)