- Bank Nifty continued with its consolidation trading below gann trendline and signal line suggesting a big move is round the corner as prices are contracting in the triangle. Support remains at 16862 and below that 16587. Resistance at 17170 and than 17280. How following NEWS can Bust your Trading Account
- Bank Nifty November Future Open Interest Volume is at 18 lakh with liquidation of 3.7 Lakh with decrease in CoC suggesting long position were closed today. Bank Nifty Rollover is at 30% with rollover cost coming @ 17171 in December Future, Can Traders make money in Stock market?
- 17500 CE is having highest OI @8.5 Lakh strong resistance formation @17500. 17400 CE added 0.75 lakh so bears added position as bank nifty unable to close above gann trendline ,close above 17500 will create panic in bear camp. 17000-17500 CE added 2 Lakh in OI major addition was seen by bears.
- 16500 PE is having highest OI @6.2 lakh strong base @16500 followed by 16000. 16500/17500 PE liquidated 1.2 lakh so bulls ran for cover and show liquidation .As we have been discussing Range of Bank Nifty at start of series is coming between 16500-17500 and bank nifty is trading well within the range for most part of expiry 🙂
Buy above 17140 Tgt 17210,17290 and 17320(Bank Nifty Spot Levels)
Sell below 16960 Tgt 16900,16830 and 16720 (Bank Nifty Spot Levels)
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