- As discussed in last analysis Bank Nifty price action suggest a change in trend as we saw buying near the demand zone. Break of 15380 can see move towards 15713/15872. Bank Nifty broke above 15380 holding gann arc as shown below now this range of 15320-80 should act as support till expiry. Resistance at 15713/15872 Bearish only on break of 15000. The story of a Woodcutter
- Bank Nifty January Future Open Interest Volume is at 25 lakh with liquidation of 3.1 Lakh with decrease in Cost of Carry suggesting long positions were closed 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 @7.6 Lakh strong resistance formation @16000. 15500 CE saw 1.3 Lakh liquidation by bears ran for cover as 15380 was broken .15000-16000 CE liquidated 2.5 Lakh in OI,first biggest liquidation by bears seen today.
- 15000 PE is having highest OI @7.5 lakh, strong support at 15000 and 14800-14600 is also strong support looking at OI addition.14500-15500 PE saw 6.2 lakh addition so bulls added aggressively today.
- Bank Nifty Futures Trend Deciding level is 15459 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 15178.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 15550 Tgt 15620,15740 and 15900 (Bank Nifty Spot Levels)
Sell below 15400 Tgt 15320,15270 and 15150 (Bank Nifty Spot Levels)