- Bank Nifty broke 16880 level in intraday but was unable to close above it, and closed below 16770 level again increasing possibility of Bank nifty going down to 16573 levels.Close above 16880 is important for move till 17031/17396 levels, Bank Nifty will keep trading in range till it either close above 16880 or below 16573.Major Problem Faced by Traders :Pulling The Trigger
- Bank Nifty December Future Open Interest Volume is at 19.6 lakh with liquidation of 1.2 Lakh with decrease in CoC suggesting long position closed today.Bank Nifty rollover cost coming @ 17158 closing below it fall continues .Can Traders make money in Stock market?
- 17500 CE is having highest OI @6.8 Lakh strong resistance formation @17500. 17000 CE added .47 lakh so bears added their positions as bank nifty closed below16758.16500-17500 CE added 1.8 Lakh in OI.
- 16000 PE is having highest OI @6.3 lakh, strong support at 16000 followed by 16500 PE .16000-17000 PE added 0.27 Lakh in OI.
Buy above 16800 Tgt 16890,17950 and 17040(Bank Nifty Spot Levels)
Sell below 16700 Tgt 16660,16580 and 16500(Bank Nifty Spot Levels)
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