- As discussing in past analysis Bulls needs a close above 18051 for next move 18650-18750, Bears below 17500 for move towards 17350/17055. close above gann arc can see bulls getting momentum on upside.Bank Nifty made low of 17346 before recovering but again unable to close above gann green arc as shown below. Bulls need to close above 17600 for bullish move, bears will become active on trading below 17350 and see an impulsive downsmove towards 17150/16950. Its all about Will power, Amazing Story of Girish Gogia
- Bank Nifty June Future Open Interest Volume is at 16.5 lakh with liquidation of 1.1 lakh, with decrease in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost is coming at 16995,Low made was 16910 and bounced 450 points on Friday. Do you know your Risk of Ruin in trading ?
- 18000 CE is having highest OI @7 Lakh resistance formation @18000. 17000-19000 CE saw 1.8 lakh addition in OI so bears added aggressively at 17500/17600.
- 17000 PE is having highest OI @9.6 Lakh, strong support at 17000 followed by 16500, Bulls added 4.3 Lakh in OI in 16000-18000 PE so need to see if we can hold 17000 in coming 3 days.
- Bank Nifty Futures Trend Deciding level is 17488 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 17612.How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 17520 Tgt 17610,17750 and 17900 (Bank Nifty Spot Levels)
Sell below 17360 Tgt 17250,17105 and 16970(Bank Nifty Spot Levels)