- As Discussed in Last Analysis 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. Bulls got whipsawed bears got active below 29500 and did 2 target on downside as Mercury Ingress showed its effect. Now fall can extend towards 29000-28900 range where strong support lies. How Comfortable you are with your trading ?
- Intraday time for reversal can be at 9:59/11:29/2:48 How to Find and Trade Intraday Reversal Times
- Bank Nifty May Future Open Interest Volume is at 18 lakh with addition of 1 Lakh, with decrease in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @29964 closed below it.
- 30500 CE is having highest OI @3 Lakh resistance at 29500 followed 29800. 29000-31000 CE added 0.56 Lakh in OI so bears added in the zone of 29500-29800
- 29000 PE is having highest OI @3.7 Lakh, strong support at 29000 followed by 28800.29000-31000 PE added 0.54 Lakh OI so bulls making strong support in the range of 28900-29200.
- Bank Nifty Futures Trend Deciding level is 29714 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 29889 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 29360 Tgt 29440,29530 and 29666 (Bank Nifty Spot Levels)
Sell below 29230 Tgt 29150,29000 and 28929 (Bank Nifty Spot Levels)
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