- As discussed in Last Analysis As today was time cycle turn date so Bulls will get active above 24151 for a move towards 24250/24476. Bearish below 23900 for a move towards 23750/23600. Nifty bulls closed above time cycle date high of 24151, also held on to gann angle for 3 time did the first target of 24250 and should do 24476-24526 by tommrow based on the government announcement of Bank recapitalization, As i said before Time cycle understanding gives the extra edge, Above 24526 we can move towards 24731/24918. Bearish below 24000 only. Bank Nifty held on to gann angle as shown in the below chart and yesterday closed above 24151 and today disciplined traders were rewarded with big bang opening and did all targets, Now Bulls need a close above 25050 for the next move 25200/25560. Bearish below 24928 for a move towards 24840/24600. What to do after Big Trading Loss
- Bank Nifty Oct Future Open Interest Volume is at 13.7 lakh with liquidation of 3 Lakh, with decrease in Cost of Carry suggesting short positions were closed today. Bank nifty Rollover cost @24098 closed above it and bounced 1000 points.
- Bank Nifty Futures Trend Deciding level is 24831 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 24301 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 25050 Tgt 25145,25250 and 24340 (Bank Nifty Spot Levels)
Sell below 24990 Tgt 24920,24810 and 24690 (Bank Nifty Spot Levels)