- As discussed in Last Analysis Bank Nifty did the final target of shark pattern and showed bounce back, but closed below the demand zone of 16286 Bank Nifty made high of 16229 and was unable to close above 16286, and which increases probability of Bank Nifty going towards 15762/15800. Bullish only above 16300, Low made was 15840 near our target of 15762/15800 near demand zone as discussed in weekly analysis. As per gunner analysis close above 16150 can see bank nifty move towards16286/16320. Fresh short only on 1 hour close below 15762. Tips to improve trading
- Bank Nifty December Future Open Interest Volume is at 25 lakh with addition of 0.97 Lakh with increase in Cost of Carry suggesting long positions were added today .Bank Nifty rollover cost coming @ 16957 and corrected heavily one started trading below Rollover Price.Can Traders make money in Stock market?
- 17000 CE is having highest OI @5.7 Lakh strong resistance formation @17000. 16500 CE added 0.78 lakh so bears continue to add position trading below the demand zone .16000-17000 CE added 2.1 Lakh in OI, aggressive addition shown by bears,can this be emotional selling as 15762 is held.
- 15500 PE is having highest OI @5.5 lakh, strong support at 15500 and before that 16000 .16500-15500 PE liquidated 0.32 Lakh so
- Bank Nifty Futures Trend Deciding level is 16004 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 16527.How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level . Traders who took trade as per TC levels are rewarded with almost 1000 Points
Buy above 16050 Tgt 16150,16283 and 16350 (Bank Nifty Spot Levels)
Sell below 15950 Tgt 15870,15762 and 15700 (Bank Nifty Spot Levels)