Bank Nifty rallies above 27500,EOD Analysis

As Discussed in Last Analysis Bank Nifty bears broke 27485 and did another 2 target on downside, and we also reacted on time cycle date as we have been discussing. Till we do not close above 27500 bears have upperhand and can push index towards 27225/27154/27070. Bullish above 27500 for a move back to 27648/27792/27889.Low made was 27448 as soon as 27500 broken bank nifty rallied all the way towards 27723 doing our 1 target and now waiting for 27792/27889.Bearish below 27651 for a move towards 27568/27485. 06 Aug is another important time cycle date after 02 Aug. below Important intraday time for reversal can be at 10:27/1:49.Dealing with Loss Aversion in Trading

Bank Nifty Aug Future Open Interest Volume is at 24.1 lakh with addition of 3.1 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @27128 closed above it.

28000 CE is having highest OI @3.2 Lakh resistance at 28000 followed 28300.26500-28500 CE liquidated 0.85 Lakh in OI so bears covered position at higher level still making resistance in range of 27900-28000

26500 PE is having highest OI @6.8 Lakh, strong support at 27000 followed by 26500.26000-28000 PE added 1.2 lakh OI so bulls having strong support in range of 27000-27200.

Bank Nifty Futures Trend Deciding level is 27669 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 27618. How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .

Buy above 27730 Tgt 27796,27870 and 27940 (Bank Nifty Spot Levels)