- As discussed in Last Analysis As we have important time cycle date tomorrow so we should be ready for big move in bank nifty.Bulls need a close above 29450 for rally to continue till 29584/29750/29929. Bears will get active below 29240 for a move back to 29071/28900. We formed another DOJI today on time cycle date, tomorrow as we have election results and weekly expiry so break of high and low of today can easily see 300-400 points move in bank nifty.Bulls need a close above 29666 for rally to continue till 29929/30094. Bears will get active below 29210 for a move back to 29071/28900.
- Intraday time for reversal can be at 9:21/10:23/11:17/12:05/1:35/2:39 How to Find and Trade Intraday Reversal Times
- Bank Nifty Oct Future Open Interest Volume is at 11.9 lakh with liquidation of 0.55 Lakh, with decrease in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @30213 closed below it.
- 29500 CE is having highest OI @3.2 Lakh resistance at 29500 followed 30000.28000-31000 CE liquidated 0.8 Lakh in OI so bears covered position in the zone of 29300-29500.
- 28500 PE is having highest OI @3.5 Lakh, strong support at 28800 followed by 28500.27000-30000 PE added 2.6 Lakh OI so bulls making support in the range of 28800-29000.
- Bank Nifty Futures Trend Deciding level is 29498 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 28883 How to trade Nifty Futures and Bank Nifty Futures as per Trend Cha31388 nger Level .
Buy above 29450 Tgt 29600,29750 and 29900 (Bank Nifty Spot Levels)
Sell below 29350 Tgt 29230,29100 and 28900 (Bank Nifty Spot Levels)
Upper End of Expiry : 29713
Lower End of Expiry : 29204
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