- As discussed in last analysis Range of 15320-15380 is very crucial closing above it bulls will rise more and unable to do so we can revisit 15000 level again. Bank Nifty opened with gap up made high of 15364 and corrected till the green gann arc and bounceback, Todays price action suggest a change in trend as we saw buying near the demand zone. Break of 15380 can see move towards 15713/15872. Bearish only on break of 14750. Trading Quotes from Curtis Faith
- Bank Nifty January Future Open Interest Volume is at 28.1 lakh with liquidation of 1.1 Lakh with increase in Cost of Carry suggesting short positions were added today .Bank Nifty rollover cost coming @ 16957 and corrected heavily one started trading below Rollover Price.How To Identify Market Tops and Bottom
- 16000 CE is having highest OI @8.1 Lakh strong resistance formation @16000. 15500 CE saw 0.4 addition by bears is next line of resistance once 15380 is crossed .15000-16000 CE added 1.7 Lakh in OI, normal addition shown by bears.
- 15000 PE is having highest OI @5.4 lakh, strong support at 15000 and 14800-14600 is also strong support looking at OI addition.14500-15500 PE saw 0.27 lakh addition so bulls not adding aggressively
- Bank Nifty Futures Trend Deciding level is 15129 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 15165.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 2000 Points
Buy above 15200 Tgt 15300,15380 and 15550 (Bank Nifty Spot Levels)
Sell below 15100 Tgt 14920,14790 and 14680 (Bank Nifty Spot Levels)