- Bank Nifty has formed an NR7 pattern today suggesting range expansion round the corner,added with time cycle. Bank Nifty Bulls will get active above 28270 for a move back to 28450/28666/28900. Bears will get active below 28140 for a move back to 28100/27920/27800.
- Intraday time for reversal can be at 10:19/11:45/12:49/2:06 How to Find and Trade Intraday Reversal Times
- Bank Nifty Aug Future Open Interest Volume is at 14.9 lakh with liquidation of 1 Lakh, with decrease in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @29286 closed below it.
- 29000 CE is having highest OI @5 Lakh resistance at 28500 followed 29000. 27000-30000 CE added 1.1 Lakh in OI so bears added position in the zone of 28000-28500.
- 27500 PE is having highest OI @3.6 Lakh, strong support at 28000 followed by 27500.27000-29000 PE added 0.86 Lakh OI so bulls making strong support in the range of 27300-27500.
- Bank Nifty Futures Trend Deciding level is 28331 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 28466 How to trade Nifty Futures and Bank Nifty Futures as per Trend Cha31388 nger Level .
Buy above 28225 Tgt 28350,28468 and 28600 (Bank Nifty Spot Levels)
Sell below 28150 Tgt 28065,27950 and 27800 (Bank Nifty Spot Levels)
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