Bank Nifty Analysis for 29 Sep

• As Discussed in Last Analysis  Bulls need to move above 21100 for a move back to 21220/21459/21666/21854. Bears will get active below 20743 for a move back to 20587/20200/19953. Low made was 21055 so bulls were able to enter above 21110 and did 3 target on upside. Now Bulls need to hold range of 21500-21540 range for the rally to continue till 21900/22130/22300. Bears will get active below 21470 for a move back to 21250/21000/20580.

• Intraday time for reversal can be at 9:57/11:08/12:53/1:46/2:21 How to Find and Trade Intraday Reversal Times

• Bank Nifty Oct Future Open Interest Volume is at 15.3 lakh with addition of 0.02 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @21225 closed above it.

• 22000 CE is having highest OI @10.5 Lakh resistance at 22000 followed 22300.21000-23000 CE added 2 Lakh in OI so bears added position in the zone of 21500-21800

• 201000 PE is having highest OI @10 Lakh, strong support at 21300 followed by 21000.20000-22000 PE added 15 Lakh OI so bulls making support in the range of 21000-21200.

• Bank Nifty Futures Trend Deciding level is 21525 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 21005  How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level . ;

Buy Above 21721 Tgt 21888,22000 and 22130 (Bank Nifty Spot Levels)

Sell Below 21570 Tgt 21382,21250 and 21100 (Bank Nifty Spot Levels)

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