Bank Nifty Analysis for 18 Dec

As Discussed in Last Analysis We have Venus Ingress tommrow so first 15 mins High and low break willd decide the trend for the day. Bulls need to break 30850 for a move back to 31000/31248/31500. Bears below 30610 can push index back to 30525/30410/30250/30000.Bank Nifty was able to sustain above first 15 mins high but did not give big move as expected. Now we have Jupiter Ingress on Saturday as Jupiter is Ruling plannet of Banks so Bank Nifty should come out of this time correction either on Monday or Tommorw. Bulls need to break 30850 for a move back to 31000/31248/31500. Bears below 30610 can push index back to 30525/30410/30250/30000.

Intraday time for reversal can be at 9:25/10:38/11:38/12:16/1:29/2:13/2:39 How to Find and Trade Intraday Reversal Times

Bank Nifty Nov Future Open Interest Volume is at 16.2 lakh with addition of 1.43 Lakh, with decrease in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @29413 closed above it.

31200 CE is having highest OI @8.8 Lakh resistance at 31200 followed 31500.29000-31000 CE added 4 Lakh in OI so bears added position in the zone of 30500-31000.

30500 PE is having highest OI @12.6 Lakh, strong support at 30500 followed by 30300.29000-31000 PE added 12 Lakh OI so bulls making support in the range of 30200-30300.

Bank Nifty Futures Trend Deciding level is 30848 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 30750 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .

Buy Above 30860 Tgt 30980,31100 and 31230 (Bank Nifty Spot Levels)