- As Discussed in Last Analysis Till we are below 27360 bears have upperhand and can go towards 27150/27072/26920. Bulls will get active above 27360 for a move back to 27444/27533/27610. Time Cycle did not show effect today so we should get move on Monday. Low made today was 27151 so bears were able to do the 1 target of 27150 and closed below 27360. Till we are below 27300 bears have upperhand and can go towards 27150/27072/26920. Bulls will get active above 27360 for a move back to 27444/27533/27610. We have time cycle confluence on 12-13 Feb so expect good move in Bank Nifty in coming 2 days.
- Intraday time for reversal can be at 2:39. Learn How to Pull the Trigger on a Trade
- Bank Nifty Feb Future Open Interest Volume is at 16.6 lakh with liquidation of 0.47 Lakh, with increase in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @26934 closed above it.
- 27500 CE is having highest OI @4.7 Lakh resistance at 27600 followed 27800. 26000-28000 CE liquidated 0.55 Lakh in OI so bears covered position in the zone of 27400-27600.
- 27000 PE is having highest OI @5 Lakh, strong support at 27000 followed by 26900.26000-28000 PE added 1.14 Lakh OI so bulls making strong support in the range of 26900-27000.
- Bank Nifty Futures Trend Deciding level is 27273 For Intraday Traders). BNF Trend Changer Level (Positional Traders) 27312 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 27250 Tgt 27310,27390 and 27460 (Bank Nifty Spot Levels)
Sell below 27150 Tgt 27074,27000 and 26920 (Bank Nifty Spot Levels)
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