- As Discussed in Last Analysis Low made was 25638 so bank nifty did not break 25630 held on to its gann angle and gave the big move as we expected above 25776 towards 25920/26064, High made was 26073. Bank Nifty did a perfect price time squaring and we were able to capture most of the move. Bulls need a close above 26064 for a move back towards 25210/25360. Bearish below 25920 for a move back to 25776/25630. Bank Nifty does 26325 almost near our target of 26360 should be done by Monday, Bulls have rallied 695 points in 2 days after we did price time squaring. Now Bulls should hold 26210 for the upmove to continue towards 26496 where we have gann angle resistance and above that 26640/266678. Bearish below 26200 for a move back to 26064/25920. Bank Important intraday time for reversal can be at 10:01/12/2:05. How to Control Emotions While trading
- Bank Nifty May Future Open Interest Volume is at 28.1 lakh with liquidation of 2.7 Lakh, with decrease in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @24969 closed above it and rallied 1000 points.
- 26500 CE is having highest OI @12.7 Lakh resistance at 26500 followed 26800.25000-27000 CE added 1.67 lakh in OI so bears added position at higher level making resistance in range of 26500-26700.
- 26000 PE is having highest OI @9.2 Lakh, strong support at 25600 followed by 25800.25000-27000 PE added 13.8 lakh in OI so bulls having strong support in range of 26000-26100.
- Bank Nifty Futures Trend Deciding level is 26154 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 25889. How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 26325 Tgt 26400,26510 and 26666 (Bank Nifty Spot Levels)
Sell below 26200 Tgt 26120,26064 and 25920 (Bank Nifty Spot Levels)
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