- As discussed in Last Analysis Till 24000 is not broken on closing basis, bank nifty bulls will have upper hand till we do not reach 24480-24500 range. High made today was 24460 so bank nifty did the remaining target of 24389 and almost did the 2 target of 24480. Now the range of 24476-24480 is very very important considered very sacred as per vedic math Close above 24480 target comes at 24649/24760/24840/25000. Unable to do so we can see correction till 24260/24120/24000. Bearish below 24000 for a move till 23830/23500. Bank Nifty made high of 24624 so it opened above the important number of 24476-24480, Low made today was 24450 and closed above 24520. Above 24480 next level of resistance is in range of 24649-24680 as shown in below chart. Traders who are long should trail position with SL of 24450 as we are nearing gann angle resistance so expect pullback in bank nifty. Close below 24450 we can see correction till 24260/24120/24000. Fresh longs should be taken above 24649 for a move towards 24760/24840/25000 Nifty Hits 10000 !!
- Bank Nifty July Future Open Interest Volume is at 22.6 lakh with liquidation of 1.42 Lakh, with increase in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @23361,closed above and did 1200 points.
- 24500 CE is having highest OI @11.8 Lakh resistance at 24500 followed 24500/24700. 23000-25000 CE added 0.35 lakh so Bears added major position in 24700-25000 range.
- 24000 PE is having highest OI @8.4 Lakh, strong support at 24000 followed by 23800, Bulls added 14 Lakh position in OI in range of 24000-25000 making strong base in range of 23800-24000.
- Bank Nifty Futures Trend Deciding level is 24500 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 23768. How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 24550 Tgt 24610,24700 and 24780(Bank Nifty Spot Levels)
Sell below 24440 Tgt 24360,24270 and 24100 (Bank Nifty Spot Levels)
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how you arrived at vedic no 24480?can you specify?