- As discussed in Last Analysis Bank Nifty Bulls and Bears both got whipsawed today, As per time cycle big move should be seen in next 2 days.Bulls need a close above 32041 for a move towards 32217/32396/32487. Bears have there chance below 31900 for a move back to 31710/31621/31532. High made was 32213 so bulls were able to do 1 target above 32041, waiting for 32396/32487 till we are holding 32041.Bears have there chance below 31980 for a move back to 31887/31710/31621/31532.
- Intraday time for reversal can be at 09:59/11:26/1:07/2:17 How to Find and Trade Intraday Reversal Times
- Bank Nifty Dec Future Open Interest Volume is at 12.8 lakh with liquidation of 0.16 Lakh, with increase in Cost of Carry suggesting short positions were closed today. Bank nifty Rollover cost @31829 closed above it.
- 32500 CE is having highest OI @7.1 Lakh resistance at 32300 followed 32500.30000-32000 CE added 1.3 Lakh in OI so bears added position in the zone of 32300-32500.
- 32000 PE is having highest OI @7.2 Lakh, strong support at 32000 followed by 31800.30000-32000 PE added 12 Lakh OI so bulls making support in the range of 31800-32000.
- Bank Nifty Futures Trend Deciding level is 32197 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 31778 How to trade Nifty Futures and Bank Nifty Futures as per Trend Cha31388 nger Level .
Buy above 32160 Tgt 32230,32333 and 32465 (Bank Nifty Spot Levels)
Sell below 32100 Tgt 32020,31900 and 31788 (Bank Nifty Spot Levels)
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