- As discussed in Last Analysis Now Once we are above 32450 we can continue rally towards 32768/32900/33124. Bears will get active below 32300 for a move back to 32170/32041. Today was Mercury Ingress so today high and low will decide the next 250-300 points move in bank Nifty.Bears will get active below 32240 for a move back to 32050/31900.Bulls will get active above 32400 for a move back to 32555/32768.
- Intraday time for reversal can be at 9:43/11:08/12:29/1:32 How to Find and Trade Intraday Reversal Times
- Bank Nifty Jan Future Open Interest Volume is at 13.8 lakh with liquidation of 1.3 Lakh, with increase in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @32425 closed above it.
- 32500 CE is having highest OI @7.9 Lakh resistance at 32500 followed 32700.31000-33000 CE added 14 Lakh in OI so bears added position in the zone of 32500-32700.
- 32000 PE is having highest OI @7.9 Lakh, strong support at 32000 followed by 32200.31000-32500 PE added 4.2 Lakh OI so bulls making support in the range of 31800-32000.
- Bank Nifty Futures Trend Deciding level is 32586 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 32445 How to trade Nifty Futures and Bank Nifty Futures as per Trend Cha31388 nger Level .
Buy above 32410 Tgt 32555,32693 and 32768 (Bank Nifty Spot Levels)
Sell below 32300 Tgt 32200,32040 and 31900 (Bank Nifty Spot Levels)
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