- As Discussed in Last Analysis Bank Nifty opened with a huge gap and closed above 25366 suggesting we can continue upmove towards 25488/25632/25700. Bulls need a close above 25700 which is a major supply zone for up move to continue towards 25920/26064. Bank Nifty Bears will get active below 25341 for a downfall towards 25262/25182/25103. Bank Nifty made low of 25147 doing our 2 target below 25341. As yesterday was important time cycle date High and low are again important and break of any side can see fast move of 200-300 points. BUllish above 25366 for a move back to 25632/25700. Bearish below 25300 for a downfall towards 25225/25140/25000. Important intraday time for reversal can be at 10:10/1:39. How Ordinary People Became Millionaire Traders
- Bank Nifty Oct Future Open Interest Volume is at 14.5 lakh with addition of 0.16 Lakh, with decrease in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @25319 closed above it.
- 25500 CE is having highest OI @5.1 Lakh resistance at 25500 followed 25700. 24000-27000 CE added 0.47 Lakh in OI so bears added in range 24500-25000 CE.
- 24500 PE is having highest OI @7.4 Lakh, strong support at 24800 followed by 24500.24000-26000 PE added 1.3 lakh OI so bulls making support at 25000-25100 range.
- Bank Nifty Futures Trend Deciding level is 25272For Intraday Traders). BNF Trend Changer Level (Positional Traders) 25033 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 25410 Tgt 25520,25650 and 25784 (Bank Nifty Spot Levels)
Sell below 25310 Tgt 25225,25125 and 25000 (Bank Nifty Spot Levels)
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