Nifty Bank Technical Analysis and Insights

As discussed in last analysis Now bulls need to move above 21600 for a move back to 21750/21950/22100. Bears will get active below 21300 for a move back to 21050/20800. Both 1 target done on upside and downside, As yesterday was an important Astro date with Venus moving to Gemini which is considered as Barren Sign which generally leads to negative price,so break of High and Low of 25 will decide the next 600-800 points move in Bank Nifty. Bulls need to break 21720 for a move back to 21870/22100. Bears will get active below 21400 for a move back to 21170/20940/20720.

Intraday time for reversal can be at 10:35/11:35/12:22/1:11/2:07/2:31 How to Find and Trade Intraday Reversal Times

Bank Nifty July Future Open Interest Volume is at 12.6 lakh with addition of 3.6 Lakh, with decrease in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @21720 closed below it.

22000 CE is having highest OI @4 Lakh resistance at 21800 followed 22000.20000-23000 CE added 8.4 Lakh in OI so bears added position in the zone of 21500-22000.

21000 PE is having highest OI @2 Lakh, strong support at 21000 followed by 20500.20000-23000 PE added 4 Lakh OI so bulls making support in the range of 21000-21500.

Bank Nifty Futures Trend Deciding level is 21317 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 21317 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level . ;

Buy Above 21600 Tgt 21721,21830 and 22000 (Bank Nifty Spot Levels)