- As discussed in Last analysis Close above 19511 will see next move towards 19700. Traders should watch 19700 very closely for coming week as major trend change will happen above 19700 and we can see move towards 20000/20400 on upside and unable to close above 19700 can see fast fall towards 19000 again. Low made was 19711 so Gann Level of 19711 came for the Bulls rescue and Bank nifty continue to trade above 19700 . Till 19700 is held we can see move towards 20000/20400. Bearish only on close below 197000 for target of 19500/19200. Why Do Traders Lose? Part-I
- Bank Nifty Oct Future Open Interest Volume is at 17 lakh with liquidation of 1.2 lakh, with rise in Cost of Carry suggesting short positions were added today. Bank nifty closed above Rollover cost 19803 expect another impulsive in next 2 days. Do you know your Risk of Ruin in trading ?
- 20000 CE is having highest OI @10 Lakh resistance at 20000. 19000-21000 CE saw addition of 8.2 lakh in OI so bears added aggressively in 19700-20000 CE as 20000 will be line of resistance for Bulls as 19700 is crossed.
- 19000 PE is having highest OI @11.9 Lakh, strong support at 19000 followed by 19500, Bulls added 4.2 Lakh in OI in 18500-20500 PE bulls added aggressively in 19200-19300 PE.
Buy above 19850 Tgt 19950,20030 and 20120 (Bank Nifty Spot Levels)
Sell below 19700 Tgt 19600,19520 and 19350 (Bank Nifty Spot Levels)
Click Here to Like Facebook Page get Real time updates
Click Here to Join me on Twitter