- As disused in Yesterday Analysis Break of 17490 can see bank nifty moving towards 17366/17133 and break above 17830 can see quick move towards 18000, Bank Nifty made low of 17401 near supply are and bounced back to close around 17474, Weekly closing tomorrow Bulls will try to close above 17589 and bears below 17334 . Worst enemy of trader?
- Bank Nifty October Future Open Interest Volume is at 22.5 lakh with liquidation of 1.11 Lakh with increase in CoC suggesting long position were closed today. Rollover cost @17334, and bank nifty closed above it but near rollover price.
- 18000 CE OI at 5.1 lakh with addition of 0.69 lakh suggesting , wall of resistance @ 18000 .17500 CE added 0.10 lakh so bears added on partial basis and bank nifty closed below 17500. 17000-18000 CE added 0.73 Lakh in OI suggesting bulls are losing ground.
- 17000 PE OI@ 6.3 lakhs strong base @ 17000. 16500/17000 PE added 0.59 lakh so bulls continue adding when bank nifty closed below 17500. 16000/17000 PE added 0.37 lakh aggressive addition by bulls seen today at 17500 PE, 17500 will paly crucial role tomorrow.
- Bank Nifty Futures Trend Deciding level is 17541 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 17435 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 17510 Tgt 17580,17645 and 17721(Bank Nifty Spot Levels)
Sell below 17350 Tgt 17280,17160 and 17000 (Bank Nifty Spot Levels)