- Bank Nifty continued to move up but unable to close above 17466 where demand zone lies. We have RBI policy tomorrow,Bank Nifty will be volatile and trending move will generally come after 12:30 and 1 PM. Bank Nifty if it starts trading above 17466 the next crucial zone of resistance lies in range of 17620-17670 where we have a supply zone, 2 Harmonic pattern targets as shown in below 2 targets, so be extra cautious in the range of 17640-17670. Support at 17262/17170 range. What’s Your Trading Brain Type?
- Bank Nifty December Future Open Interest Volume is at 19.2 lakh with liquidation of 0.53 Lakh with increase in CoC suggesting short position were closed today.Bank Nifty rollover cost coming @ 17158 .Can Traders make money in Stock market?
- 18000 CE is having highest OI @3.3 Lakh strong resistance formation @18000. 17500 CE added 0.03 lakh so bears added minor position.17000-18000 CE added 0.24 Lakh in OI.
- 17000 PE is having highest OI @5.4 lakh strong base @17000 followed by 16500 @3.6 Lakh. Range of Bank Nifty still remains in the range of 16500-17500 start of December series.17000-18000 PE added 1.3 Lakh in OI.
- Bank Nifty Futures Trend Deciding level is 17491 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 17331 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level . Traders who initiated on TC level were handsomely rewarded.
Buy above 17510 Tgt 17580,17670 and 17800(Bank Nifty Spot Levels)
Sell below 17400 Tgt 17350,17282 and 17170 (Bank Nifty Spot Levels)