- As discussed in Last analysis Bulls need close above 19367 for target of 19650/19766, Bears below 19000 for target of 18800/18500. Till 19158 is not broken its buy on dips market.Sustaining above today’s high of 19250 bank nifty can make other move towards 19367 and close above it momentum will again come in bulls favor. Low made was 19306 , High near 19546, Bank Nifty bulls broken 19367 sustained above it and saw a big impulsive move. Now bulls should sustain above 19367 for move towards 19650-19700. Close above 19700 on Weekly basis can see bank nifty moving towards all time high. How to recover from Losing Streak
- Bank Nifty Sep Future Open Interest Volume is at 26.1 lakh with addition of 4 lakh, with rise in Cost of Carry suggesting long positions were entered today. Bank nifty closed below Rollover cost 19450 closed above it,rallied 200 points. Do you know your Risk of Ruin in trading ?
- 20000 CE is having highest OI @7.9 Lakh resistance formation @20000. 18500-20500 CE saw 5.5 lakh addition in OI so bears added heavily in 20000-21000 CE.
- 19000 PE is having highest OI @6.6 Lakh, strong support at 19000 followed by 18800, Bulls added 2.1 Lakh in OI in 19500-19800 PE so bulls making support in zone of 18800-19000 zone.
- Bank Nifty Futures Trend Deciding level is 19540 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 19400 .How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 19550 Tgt 19640,19701 and 19850 (Bank Nifty Spot Levels)
Sell below 19450 Tgt 19380,19320 and 19220 (Bank Nifty Spot Levels)