- As discussed in Last Analysis Range of 23963-24270 will be a dicey range to trade with, So breakout trades should long above 24270 for a move till 24358/24480/24750. Bearish below 23960 for a move till 23780/23510. 04 Oct is crucial trend change date as per time cycle. Low made was 24033 and high made was 24188 so the range of 23963-24270 is still maintained. Bullish above 24270 for a move till 24358/24510/24700. Bearish below 23960 for a fall till 23800/23650. price is stuck in gann arc/gann angle, so impulsive move round the corner, Time Cycle effect of 04 Oct will be seen in next 2-3 days. Trading using AVERAGE TRUE RANGE
- Bank Nifty Oct Future Open Interest Volume is at 22.7 lakh with liquidation of 0.50 Lakh, with increase in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @24098 closed above it.
- 24500 CE is having highest OI @7.6 Lakh resistance at 24500 followed 24300.23500-25500 added 1.15 lakh in OI so bears making resistance in range of 24300-24500.
- 24000 PE is having highest OI @6.9 Lakh, strong support at 23800 followed by 24000.23500-25500 added 2.1 lakh in OI so bears making support in range of 23900-24000.
- Bank Nifty Futures Trend Deciding level is 24142 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 24091 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 24100 Tgt 24160,24250 and 24350 (Bank Nifty Spot Levels)
Sell below 24000 Tgt 23940,23850 and 23700 (Bank Nifty Spot Levels)