- 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. High made today was 19722 doing our target of 19700, but fail to close above 19700. Traders should watch 19700 very closely for coming week as major trend change will happen on daily above 19700 and we can see move towards 20000/20400 on upside and unable to close above 19700 can see fast fall towards 19300/19000 again. Why Trading is a mental game
- Bank Nifty Oct Future Open Interest Volume is at 18.9 lakh with addition of 0.02 lakh, with fall in Cost of Carry suggesting short positions were closed today. Bank nifty closed below Rollover cost 19803 saw almost 1000 point correction Do you know your Risk of Ruin in trading ?
- 20000 CE is having highest OI @8 Lakh resistance at 20000. 19000-21000 CE saw addition of 1.4 lakh in OI so bears added aggressively in 197000-20000 CE as 19700 will be line of resistance for Bulls.
- 19000 PE is having highest OI @9.6 Lakh, strong support at 19000 followed by 18500, Bulls added 7.4 Lakh in OI in 18500-20500 PE bulls added aggressively in 19500-19600 PE.
Buy above 19700 Tgt 19760,19860 and 19980 (Bank Nifty Spot Levels)
Sell below 19600 Tgt 19520,19450 and 19380 (Bank Nifty Spot Levels)
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