- As Discussed in Last Analysis We got the big move as per expectation and bank nifty closed above 28100 also. Now Bulls need to do weekly close above 28100 for move towards 28225/28395/28500. Bears will get active below 27940 for a move back to 27800/27640/27525. All Bullish target till 28500 done above 28100. Now Bank Nifty need to close above 28500 for the up move to continue till 28750/29041. Bears will get active below 28250 for a move back to 28100/27939.
- Intraday time for reversal can be at 10:14/11:24/12:42/1:37/2:32 How to Find and Trade Intraday Reversal Times
- Bank Nifty Aug Future Open Interest Volume is at 15.6 lakh with liquidation of 2 Lakh, with decrease in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @29286 closed below it.
- 28500 CE is having highest OI @3.5 Lakh resistance at 28000 followed 28500. 27000-30000 CE liquidated 0.70 Lakh in OI so bears covered position in the zone of 28000-28500.
- 27500 PE is having highest OI @2.9 Lakh, strong support at 27300 followed by 27500.27000-29000 PE added 1.4 Lakh OI so bulls making strong support in the range of 27800-28000.
- Bank Nifty Futures Trend Deciding level is 28479 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 28587 How to trade Nifty Futures and Bank Nifty Futures as per Trend Cha31388 nger Level .
Buy above 28500 Tgt 28625,28741 and 28950 (Bank Nifty Spot Levels)
Sell below 28400 Tgt 28250,28100 and 27900 (Bank Nifty Spot Levels)
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