- Bank Nifty continued in consolidation mode forming DOJI candlestick, should see big move in next 2 trading days as per time analysis. 17850 is breakout area for 18050/18144 and 17350 is breakdown area for 17177/17000, In between its pure consolidation mode. How To NOT Blow Up Your Trading Account
- Bank Nifty October Future Open Interest Volume is at 22.1 lakh with liquidation of 0.25 Lakh with increase in CoC suggesting short position were closed today. Rollover cost @17334, and bank nifty closed above it but near rollover price.
- 18000 CE OI at 5.8 lakh with liquidation of 0.05 lakh suggesting , wall of resistance @ 18000 .17500 CE liquidated 0.05 lakh so bears did not add position. 17000-18000 CE added 0.08 Lakh, again today low was 17473 so 17500 is playing crucial role as we have been discussing.
- 17000 PE OI@ 6.3 lakhs strong base @ 17000. 16500/17000 PE liquidated 0.13 lakh so bulls finally gave up some ground but still close was above 17500. 16000/17000 PE liquidated 0.11 lakh.
- Bank Nifty Futures Trend Deciding level is 17601 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 17493 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 17630 Tgt 17720,17860 and 17980 (Bank Nifty Spot Levels)
Sell below 17450 Tgt 17400,17320 and 17250 (Bank Nifty Spot Levels)