- As discussed in Last Analysis Plan remains the same Bulls need a close above 30420 for a move back to 30636/30800/31000. Bears need a close below 30200 for a move back to 30050/29900. Bank Nifty closed below 30200 and waiting for target of 30050/29900/29700. Bulls will get active above 30300 for a move back to 30420/30600.
- Intraday time for reversal can be at 9:43/10:57/1:13/2:35 How to Find and Trade Intraday Reversal Times
- Bank Nifty Nov Future Open Interest Volume is at 11.2 lakh with addition of 0.60 Lakh, with decrease in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @29919 closed above it.
- 30500 CE is having highest OI @3 Lakh resistance at 30500 followed 31000.28000-31000 CE added 1.2 Lakh in OI so bears added position in the zone of 30500-30800.
- 29500 PE is having highest OI @3.4 Lakh, strong support at 30000 followed by 29800.27000-30000 PE added 1 Lakh OI so bulls making support in the range of 29800-30000.
- Bank Nifty Futures Trend Deciding level is 30332 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 30348 How to trade Nifty Futures and Bank Nifty Futures as per Trend Cha31388 nger Level .
Buy above 30260 Tgt 30400,30555 and 30700 (Bank Nifty Spot Levels)
Sell below 30100 Tgt 30000,29890 and 29700 (Bank Nifty Spot Levels)
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