- As discussed in Last Analysis Bulls need a close above 25100 for a move towards 25370/25500.Bearish below 24780 only. High made today was 25370 so bulls did the as bank nifty opened gap up above 25100. Now Bulls need a close above 25390 for the next leg of upmove towards 25520/25670/25920. Bearish below 25100 for a move towards 24950/24800. The ‘formula’ for trading Success :Consistency
- Bank Nifty Dec Future Open Interest Volume is at 19.2 lakh with liquidation of 2.6 Lakh, with decrease in Cost of Carry suggesting Long positions were closed today. Bank nifty Rollover cost @25844, closed below it.
- 26000 CE is having highest OI @10.7 Lakh resistance at 26000 followed 26500.24500-26500 CE added 1.3 lakh in OI so bears added position at higher level making strong resistance in range of 25500-26000.
- 25000 PE is having highest OI @13.1 Lakh, strong support at 25000 followed by 24800.24500-26500 PE added 0.3 lakh in OI so bulls added position at lower level and closed above 25000 again.
- Bank Nifty Futures Trend Deciding level is 25338 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 25248. How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 25350 Tgt 25410,25500 and 25610 (Bank Nifty Spot Levels)
Sell below 25250 Tgt 25190,25100 and 25020 (Bank Nifty Spot Levels)
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