- 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 19744 and low made was 19516 so Bank nifty took support near our level of 19511 and bounced back towards 19700 again and finally closed above above 19700. Next week is very important as per gann analysis so expect impulsive move around 25 Oct as per time analysis. Traders should watch 19700 as shown in below chart 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. Want to be a Good trader Move out of your comfort zone
- Bank Nifty Oct Future Open Interest Volume is at 18.4 lakh with liquidation of 0.53 lakh, with rise in Cost of Carry suggesting short positions were added 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 @9.3 Lakh resistance at 20000. 19000-21000 CE saw addition of 5.5 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 @11.5 Lakh, strong support at 19000 followed by 18500, Bulls added 7.8 Lakh in OI in 18500-20500 PE bulls added aggressively in 19300-19500 PE.
Buy above 19750 Tgt 19800,19884 and 19980 (Bank Nifty Spot Levels)
Sell below 19650 Tgt 19570,19450 and 19350 (Bank Nifty Spot Levels)
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