- As discussed in last analysis As Bank nifty is closing above gann line of resistance so it heading to gann swing point at 18044 and above that 18144, Support at 17850 below that can move to 17652. Bank Nifty opened up at 18030 near gann swing levels unable to sustain over it and corrected towards the rising trendline as shown in below chart,Support comes @17732 and 17650. Resistance at 17950/18044. How to develop yourself as Profitable trader
- Bank Nifty October Future Open Interest Volume is at 19.2 lakh with liquidation of 1.5 Lakh with decrease in CoC suggesting short position were closed today. Rollover of Bank nifty is @ 17980.
- 18500 CE OI at 7.9 lakh with addition of 0.20 lakh suggesting , wall of resistance @ 18500 .17500 CE added 0.05 lakh and 18000 CE added 0.99 lakh so bears again building position on 18000 CE as Bank Nifty close below 17850. 17000-18000 CE added 1.76 Lakh, so Bears added aggressively today.
- 17000 PE OI@ 5.77 lakhs strong base @ 17000. 17500 PE added 0.43 lakh so bulls has started adding their position and no liquidation seen even bank nifty closed in red. 16500/17500 PE added 0.29 lakh so bulls need further confirmation with close above 17950 to add aggressively.
- Bank Nifty Futures Trend Deciding level is 17866 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 17614 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level . Traders who followed TC levels got entry today and rewarded by 500 points in 3 trading sessions.
Buy above 17900 Tgt 17960,18040 and 18111 (Bank Nifty Spot Levels)
Sell below 17800 Tgt 17740,17650 and 17500 (Bank Nifty Spot Levels)