- As discussed in Last analysis Till 19700 is held we can see move towards 20000/20400. Bearish only on close below 197000 for target of 19500/19200. Bank Nifty opened gap down made high of 19725 and bears became active below 19700 and did target of 19500 and close below 19500 suggesting we can move towards 19300/19000. We have been discussing the effect of 25 Oct Time Analysis, Nifty is down 400 point from the high formed on 25 Oct. Why Do Traders Lose? Part-I
- Bank Nifty Oct Future Open Interest Volume is at 11.9 lakh with liquidation of 5 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 @10.5 Lakh resistance at 20000. 19000-21000 CE saw addition of 6 lakh in OI so bears added aggressively in 19700-20000 CE as 19700 will be line of resistance for Bulls for expiry day.
- 19000 PE is having highest OI @10.5 Lakh, strong support at 19000 followed by 19300, Bulls liquidated 7 Lakh in OI in 18500-20500 PE bulls ran for cover 19500-19700 PE.
Buy above 19550 Tgt 19660,19725 and 19840 (Bank Nifty Spot Levels)
Sell below 19430 Tgt 19250,19150 and 19078 (Bank Nifty Spot Levels)
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