- As Discussed in Last Analysis Bank Nifty Took Support at gann angle and formed DOJI on time cycle date 02 AUg. Now Bulls need to move above 28225 for a move back to 28400/28578/28700. Bears will get active below 28100 for a move back to 27900/27666. Bank Nifty opened with gap down broke Friday low in gap only, we failed to see any reversal in market. Till we are below 27700 bears have upper hand. Shorts can be taken below 27389 for a move back to 27141/27059/26876. 27000 is important vedic number. Bulls will get active above 27700 for a move back to 27887/27971/28100.
- Intraday time for reversal can be at 10:43/11:34/12:35/1:19/2:05 How to Find and Trade Intraday Reversal Times
- Bank Nifty Aug Future Open Interest Volume is at 19.3 lakh with addition of 2.11 Lakh, with decrease in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @29286 closed below it.
- 28500 CE is having highest OI @2.4 Lakh resistance at 28000 followed 28500. 27000-30000 CE added 2.53 Lakh in OI so bears added position in the zone of 27500-28500.
- 27000 PE is having highest OI @1.3 Lakh, strong support at 27000 followed by 27300.27000-29000 PE added 0.04 Lakh OI so bulls making strong support in the range of 27000-27200.
- Bank Nifty Futures Trend Deciding level is 27740 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 28826 How to trade Nifty Futures and Bank Nifty Futures as per Trend Cha31388 nger Level .
Buy above 27640 Tgt 27721,27879 and 27971 (Bank Nifty Spot Levels)
Sell below 27533 Tgt 27367,27200 and 27000 (Bank Nifty Spot Levels)
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