- As discussed in Last analysis Now Bulls again need close above 19158 for move towards 19500 and bear will get active only on close below 18500, in between its just time correction. High made today was 19493 and bank nifty close below 19367. 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. Trading Psychology : Walking The Plank
- Bank Nifty Aug Future Open Interest Volume is at 19.1 lakh with liquidation of 2.8 lakh, with rise in Cost of Carry suggesting short positions were closed today. Bank nifty closed above Rollover cost 19030,fired 400 points. Do you know your Risk of Ruin in trading ?
- 19500 CE is having highest OI @10 Lakh resistance formation @19500. 18500-20500 CE saw 6.2 lakh addition in OI so bears added heavily in 19500-19800 CE.
- 19000 PE is having highest OI @7.6 Lakh, strong support at 19000 followed by 18800, Bulls liquidated 0.70 Lakh in OI in 17500-19500 PE so bulls making support in zone of 18800-19000 zone.
- Bank Nifty Futures Trend Deciding level is 19344 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 18990 .How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 19400 Tgt 19460,19600 and 19700(Bank Nifty Spot Levels)
Sell below 19200 Tgt 19118,19000 and 18900 (Bank Nifty Spot Levels)