- As discussed in Last analysis Bear will get upperhand on close below 19451 for target of 19340/19020 and bulls above 19732. Bank Nifty bears finally broke 19451 and did the target of 19340, now trading below 19340 can see fast move towards 19185/19020. Bank Nifty bears were unable to clsoe below 19340 suggesting bears are losing momentum but still have upper hand till close below 19520. ANy close above 19520 will take ban nifty back to 19750-800 range. The important things in life
- Bank Nifty Oct Future Open Interest Volume is at 20.6 lakh with addition of 0.06 lakh, with fall in Cost of Carry suggesting short positions were added today. Bank nifty closed below Rollover cost 19803 Do you know your Risk of Ruin in trading ?
- 20000 CE is having highest OI @10.3 Lakh resistance at 20000. 19000-21000 CE saw 3.95 lakh addition in OI so bears added aggressively in 20000-20500 CE.
- 19500 PE is having highest OI @5 Lakh, strong support at 19500 followed by 19000, Bulls added 1.8 Lakh in OI in 18500-20500 PE bulls held to 19500 level and added at lower range of 19000-19200 range.
- Bank Nifty Futures Trend Deciding level is 19481(For Intraday Traders). BNF Trend Changer Level (Positional Traders) 19558 .How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 19400 Tgt 19450,19530 and 19650 (Bank Nifty Spot Levels)
Sell below 19300 Tgt 19250,19190 and 19090 (Bank Nifty Spot Levels)