- As Discussed in Last Analysis Now Bank Nifty Bulls need to close above 29200 for a move back to 29430/29666/29825. Bears will get active below 29100 for a move back to 28900/28711/28520. IF todays low is held we can rally back to 29800. Bulls did 1 target on upside and bears did all 3 target on downside,As we have expiry tommorow Bulls will need a close above 28800 for move towards 29000/29225/29475. Bears will get active below 28500 for a mvoe back to 28200/28100/27900.
- Intraday time for reversal can be at 10:12/11:04/1:40 How to Find and Trade Intraday Reversal Times
- Bank Nifty Oct Future Open Interest Volume is at 15.1 lakh with addition of 1.8 Lakh, with increase in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @30213 closed below it.
- 30500 CE is having highest OI @2.2 Lakh resistance at 30500 followed 30000.30000-31000 CE added 5 Lakh in OI so bears added position in the zone of 29000-29300.
- 28500 PE is having highest OI @4.2 Lakh, strong support at 28500 followed by 28100.28000-31000 PE added 2 Lakh OI so bulls making support in the range of 28900-29100.
- Bank Nifty Futures Trend Deciding level is 29036 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 29724 How to trade Nifty Futures and Bank Nifty Futures as per Trend Cha31388 nger Level .
Buy above 28776 Tgt 28900,29100 and 29225 (Bank Nifty Spot Levels)
Sell below 28500 Tgt 28300,28100 and 27990 (Bank Nifty Spot Levels)
Upper End of Expiry : 28796
Lower End of Expiry : 28473
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