- As Discussed in Last Analysis Bears will get active below 29890 for a move back to 29792/29630. Bank Nifty opened with a gap down but held on to 29500, as we had mercury sign change today as shown in below video, so a good move should be seen. Bulls will get active above 29760 for a move towards 29872/29959/30045. Bears will get active below 29500 for a move towards 29356/29270/29185. How Comfortable you are with your trading ?
- Intraday time for reversal can be at 10:33/12:04/2:38 How to Find and Trade Intraday Reversal Times
- Bank Nifty May Future Open Interest Volume is at 17 lakh with addition of 4.5 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @29964 closed above it.
- 30500 CE is having highest OI @2.6 Lakh resistance at 30000 followed 30300. 29000-31000 CE added 0.68 Lakh in OI so bears added in the zone of 30000-30300.
- 29500 PE is having highest OI @2.8 Lakh, strong support at 29500 followed by 29300.29000-31000 PE added 0.78 Lakh OI so bulls making strong support in the range of 29300-29500.
- Bank Nifty Futures Trend Deciding level is 29740 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 29919 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 29650 Tgt 29730,29830 and 29930 (Bank Nifty Spot Levels)
Sell below 29600 Tgt 20520,29420 and 29300 (Bank Nifty Spot Levels)
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