- As discussed in Last Analysis Holding the same bank nifty can move towards 18500/18700. Bearish below 18250 for a move towards 18000. Expect a Big move in bank nifty as per time cycle in next 2 trading sessions. Bank Nifty close above 18500 can move to next resistance zone of 18739. Bearish only below 18250. Time cycle worked perfectly and bank nifty rallied 600 points after 10 Jan holding 18250. The current rally can continue till 19101 holding 18500. Now bearish only on close below 18500 Psychological Pitfalls in Trading
- Bank Nifty Jan Future Open Interest Volume is at 21.8 lakh with addition of 2 lakh, with decrease in Cost of Carry suggesting Short positions were added today. Bank nifty rollover @66.9 and Rollover cost @17905 closed above it.
- 19000 CE is having highest OI @10.5 Lakh resistance at 19000. 17500-19500 CE saw addition of 0.23 lakh in OI so bears added in 19000 CE. Also as per our analysis yesterday 18500 could be broken as 18250 has been broken from past 2 days.
- 18000 PE is having highest OI @ 7.7 Lakh, strong support at 18000 followed by 17500, Bulls added 5.1 Lakh in OI in range of 17500-19500 PE.
- Bank Nifty Futures Trend Deciding level is 18731 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 18216 .How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 18890 Tgt 18970,19050 and 19101 (Bank Nifty Spot Levels)
Sell below 18740 Tgt 18660,18600 and 18500 (Bank Nifty Spot Levels)
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