- Bank Nifty broke support near gann arc and trendline as shown in below 2 charts, Bank Nifty closed below 16850 bank nifty moving towards 16587/16300. Close above 16850 is important for move towards 17170/17396. Are You a Trader or a Gambler?
- Bank Nifty December Future Open Interest Volume is at 21.4 lakh with addition of 0.10 Lakh with decrease in CoC suggesting short position were added today.Bank Nifty rollover cost coming @ 17158 .Can Traders make money in Stock market?
- 18000 CE is having highest OI @5.3 Lakh strong resistance formation @18000. 17500 CE added 1 lakh so bears added aggressive position as bank nifty broke 16850.17000-18000 CE added 2 Lakh in OI.
- 17000 PE is having highest OI @6.4 lakh eventhough Bank nifty is trading below 17000, 16500 @4.3 Lakh. Range of Bank Nifty still remains in the range of 16500-17500 start of December series.16000-17000 PE added 1.2 Lakh in OI so addition was seen by Bulls in 16000/16500.
- Bank Nifty Futures Trend Deciding level is 16919 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 17219 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 16850 Tgt 16901,17000 and 17060(Bank Nifty Spot Levels)
Sell below 16740 Tgt 16680,16590 and 16500 (Bank Nifty Spot Levels)