- 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. Low made was 19097 , High near 19248, Bank Nifty bears unable to break 19158 on closing basis and Bulls were unable to close above 19367 suggesting fight is on in between both of them, 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. Bulls need a close above 19367 and bears below 19158. How to create new habits?
- Bank Nifty Sep Future Open Interest Volume is at 22.1 lakh with addition of 1.54 lakh, with rise in Cost of Carry suggesting long positions were entered today. Bank nifty closed below Rollover cost 19450 Do you know your Risk of Ruin in trading ?
- 20000 CE is having highest OI @6.1 Lakh resistance formation @20000. 18500-20500 CE saw 2 lakh addition in OI so bears added heavily in 19500-20000 CE.
- 19000 PE is having highest OI @5.8 Lakh, strong support at 19000 followed by 18800, Bulls added 2.8 Lakh in OI in 18000-20000 PE so bulls making support in zone of 18800-19000 zone.
- Bank Nifty Futures Trend Deciding level is 19264 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 19351 .How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 19250 Tgt 19325,19450 and 19550 (Bank Nifty Spot Levels)
Sell below 19110 Tgt 19040,18980 and 18880 (Bank Nifty Spot Levels)