- As discussed in Last analysis Now bulls should hold the 19450-19500 range near gann angle line for upmove back towards 19800/20200. Close below 19500 can quickly push bank nifty towards 19360/19100. Bank Nifty continue to hold 19500 and gann trendline as shown in below chart,Bulls needs to hold 19451-19500 range for target of 19732. Any close below 19451 target of 19300/19100. Low made today was 19509 so back nifty held on to gann line and rallied till 19700 near our target of 19732. Bulls need a close above 19732 for a move till 19904 and 20000.Bears will be active below 19451 for a move towards 19300/19100. 3 Mantra of Successful Trading Part-II
- Bank Nifty Sep Future Open Interest Volume is at 12.1 lakh with liquidation of 5.7 lakh, with rise in Cost of Carry suggesting short positions were added today. Bank nifty closed above Rollover cost ,rallied 1000 points before this correction. Do you know your Risk of Ruin in trading ?
- 20000 CE is having highest OI @9.7 resistance at 20000. 19000-21000 CE saw 6.8 lakh addition in OI so bears booked profit in 20000-20500 CE
- 19000 PE is having highest OI @11.7 Lakh, strong support at 19000 followed by 19500, Bulls liquidated 4.8 Lakh in OI in 18500-20500 PE bulls making strong support in range of 19400-19600 zone.
Buy above 19750 Tgt 19810,19920 and 20000 (Bank Nifty Spot Levels)
Sell below 19500 Tgt 19430,19350 and 19250 (Bank Nifty Spot Levels)
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