Bank Nifty Analysis for 11 Aug

As discussed in last analysis Bank Nifty formed an Inside Bar and NR7 together combined with 09 Aug Astro date suggesting big move will be seen in next 2 days. Bank Nifty Bulls need to move above 21800 for a move towards 22000/22000/22500. Bears will get active below 21610 for a move back to 21500/21350/21200. 22000 done above 21800, Till 21800 is held bulls can rally towards 22200/22425. Bears will get active below 21780 for a move back to 21500/21350/21200.

Intraday time for reversal can be at 9:15/10:13/11:21/12:13/1:34/2:41 How to Find and Trade Intraday Reversal Times

Bank Nifty Aug Future Open Interest Volume is at 13.1 lakh with liqudiation of 0.26 Lakh, with increase in Cost of Carry suggesting short positions were closed today. Bank nifty Rollover cost @22013 closed below it.

22000 CE is having highest OI @10 Lakh resistance at 22000 followed 22300.21000-23000 CE added 12 Lakh in OI so bears added position in the zone of 22000-22500.

21500 PE is having highest OI @18 Lakh, strong support at 21500 followed by 21000.20000-22000 PE added 14 Lakh OI so bulls making support in the range of 21500-21300.

Bank Nifty Futures Trend Deciding level is 21986(For Intraday Traders). BNF Trend Changer Level (Positional Traders) 21653 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level . ;

Buy Above 21940 Tgt 22049,22190 and 22326 (Bank Nifty Spot Levels)