- As discussed in Last Analysis Bank Nifty bulls bears both got whipsawed as today is small trading session for 1 hour so bulls need to move above 29500 for a move back to 29800/30100. Bears will get active below 29250 for a move back to 29100/28900. 29800 done, Now Bulls need to hold 29750 for the upmove to continue towards 30100/30300. Bears will get active below 29700 for a move back to 29500/29300/29100.
- Intraday time for reversal can be at 10:04/11:07/1:42/2:23 How to Find and Trade Intraday Reversal Times
- Bank Nifty Nov Future Open Interest Volume is at 4.7 lakh with addition of 1.4 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @30213 closed below it.
- 30000 CE is having highest OI @5 Lakh resistance at 30000 followed 30300.28000-31000 CE liquidated 3Lakh in OI so bears covered position in the zone of 29300-29500.
- 29500 PE is having highest OI @3.4 Lakh, strong support at 29500 followed by 29300.27000-30000 PE added 4Lakh OI so bulls making support in the range of 28800-29000.
- Bank Nifty Futures Trend Deciding level is 29783 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 28968 How to trade Nifty Futures and Bank Nifty Futures as per Trend Cha31388 nger Level .
Buy above 30000 Tgt 30118,30350 and 30500 (Bank Nifty Spot Levels)
Sell below 29750 Tgt 29500,29300 and 29100 (Bank Nifty Spot Levels)
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