- Bank Nifty Bulls now need to move above 28800 for a move towards 29000/29270/29500/29782. Bears will get active below 28450 for a move back to 28200/28000. We have bounced from gann angle as shown below suggesting we are heading towards 29250/29700 range till we hold to 28450 levels.
- Intraday time for reversal can be at 10:22/11:53/12:54/1:48 How to Find and Trade Intraday Reversal Times
- Bank Nifty Oct Future Open Interest Volume is at 13.5 lakh with liquidation of 0.89 Lakh, with decrease in Cost of Carry suggesting short positions were closed today. Bank nifty Rollover cost @30213 closed below it.
- 29000 CE is having highest OI @3 Lakh resistance at 28500 followed 29000.28000-31000 CE liquidated 3.5 Lakh in OI so bears covered position in the zone of 28300-28500.
- 27500 PE is having highest OI @2 Lakh, strong support at 28300 followed by 28000.27000-30000 PE added 4 Lakh OI so bulls making support in the range of 28300-28500.
- Bank Nifty Futures Trend Deciding level is 28377 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 29022 How to trade Nifty Futures and Bank Nifty Futures as per Trend Cha31388 nger Level .
Buy above 28860 Tgt 29000,29195 and 29300 (Bank Nifty Spot Levels)
Sell below 28700 Tgt 28550,28450 and 28225 (Bank Nifty Spot Levels)
Upper End of Expiry : 29116
Lower End of Expiry: 28597
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