Zomato Listing : Bank Nifty Analysis

As Discussed in Last Analysis Now we have another important mercury date coming as explained in below video, Bulls need to move above 34625 for a move back to 34754/34864/35000/35200. Bears will get active below 34485 for a move towards 34217/34018/33820. Bank Nifty opened with gap up and Bears also unable to trigger any level on downside. Now we will have Zomato listing and AGR case results coming tommrow so volatality will be seen again. Now Bears need to break 34555 for a quick move towards 34400/34323/34230/34062. Bulls will get active above 34777 for a move towards 34870/35000/35172.

Intraday time for reversal can be at 10:07/11:56/12:28/1:36/2:46 How to Find and Trade Intraday Reversal Times

Bank Nifty July Future Open Interest Volume is at 20 lakh with liquidation of 2.9 Lakh, with increase in Cost of Carry suggesting LONG positions were closed today. Bank nifty Rollover cost @34909 closed above it.

35500 CE is having highest OI @15 Lakh resistance at 35500 followed 36000 . 35000-37000 CE added 15.3 Lakh in OI so bears added position in the zone of 35800-36000.

34000 PE is having highest OI @17.2 Lakh, strong support at 34300 followed by 34000 .34000-35000 PE added 12 Lakh OI so bulls making support in the range of 34500-34000.

Bank Nifty Futures Trend Deciding level is 34843 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 35341 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .

Buy Above 34710 Tgt 34820, 34920 and 35092 (Bank Nifty Spot Levels)