- As Discussed in Last Analysis Bulls should now hold 26550-26569 range for the upmove to continue towards 26896-26928 where we have an important supply zone and also gann angle resistance. Bearish below 26500 only. High made today was 26570 exactly near our support zone of 26569 this is how gann helps in finding pin point accurate levels. As soon was 26500 broken we saw the decline towards 26250 so we again reacted from gann angle resistance zone. Any break of 26208 can see fast decline towards 26064/25920/25776/25600. Bullish above 26352 for a move back to 26496/26640/26777. Bank Important intraday time for reversal can be at 11:04/2:27. How to Control Emotions While trading
- Bank Nifty May Future Open Interest Volume is at 20.6 lakh with liquidation of 5.8 Lakh, with decrease in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @24969 closed above it and rallied 1500 points.
- 26500 CE is having highest OI @12.3 Lakh resistance at 26500 followed 26300.25000-27000 CE added 20 lakh in OI so bears added position at higher level making resistance in range of 26300-26500.
- 26000 PE is having highest OI @9.2 Lakh, strong support at 26100 followed by 26000.25000-27000 PE liquidated 18.2 lakh in OI so bulls having ran for cover and support of 26000 should be tested tommrow till we are below 26300.
- Bank Nifty Futures Trend Deciding level is 26321 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 25943. How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 26300 Tgt 26348,26450 and 26555 (Bank Nifty Spot Levels)
Sell below 26200 Tgt 26120,26000 and 25920 (Bank Nifty Spot Levels)
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