- As Discussed in Last Analysis As we have expiry tomorrow 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. Bears were able to do 28240 only. As we have RBI Policy outcome by 11:45 tomorrow and today we had mercury ingress suggesting good move on cards. Bank Nifty Bulls need to close above 28777 for a move back to 29000/29225/29500. Bears will get active below 28400 for a move back to 28240/28100/27800.
- Intraday time for reversal can be at 10:26/11:02/12:01/1:41 How to Find and Trade Intraday Reversal Times
- Bank Nifty Oct Future Open Interest Volume is at 15.8 lakh with addition of 0.73 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @30213 closed below it.
- 29500 CE is having highest OI @2.5 Lakh resistance at 29500 followed 30000.28000-31000 CE added 1.25 Lakh in OI so bears added position in the zone of 29000-29300.
- 28000 PE is having highest OI @3.6 Lakh, strong support at 28000 followed by 27900.28000-31000 PE added 0.13 Lakh OI so bulls making support in the range of 28100-28000.
- Bank Nifty Futures Trend Deciding level is 28623 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 29500 How to trade Nifty Futures and Bank Nifty Futures as per Trend Cha31388 nger Level .
Buy above 28500 Tgt 28777,28900 and 29100 (Bank Nifty Spot Levels)
Sell below 28350 Tgt 28180,28000 and 27850 (Bank Nifty Spot Levels)
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