Bank Nifty corrects 766 points with break of time cycle low,EOD Analysis

As Discussed in Last Analysis Bank Nifty open with gap up but as soon as 28151 broken bears took the front foot and it saw a waterfall decline below 27920 and did 27784 low made was 27777. Now Bears need to break 27739 for a move back to 27656/27570/27360/27220. Bullish above 27920 for a move back to 28000/28070/28225. Bears break 27739 and did almost 3 target as low made was 27385, So we were able to capture the whole move from 28151 towards 27360. Bears need to break 27360 for a move towards gann support zone range of 27225-27250 below that 27040. Bullish only above 27570 for a move towards 27840/27920/28068. Important intraday time for reversal can be at 10:12/2:13. Honored to be part Online Trading Summit

Bank Nifty Sep Future Open Interest Volume is at 17.2 lakh with addition of 0.50 Lakh, with increase in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @28307 closed below it.

29000 CE is having highest OI @6.9 Lakh resistance at 28000 followed 28300. 27000-29000 CE added 2.3 Lakh in OI so bears continue to add at 28000-28500 CE.

27000 PE is having highest OI @7.6 Lakh, strong support at 27500 followed by 27300.27000-29000 PE added 1 lakh OI so bulls having strong support in range of 27200-27300.

Bank Nifty Futures Trend Deciding level is 27752(For Intraday Traders). BNF Trend Changer Level (Positional Traders) 28067. How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .

Buy above 27500 Tgt 27570,27656 and 27741 (Bank Nifty Spot Levels)