- As discussed in last analysis Bulls need a close above 17100 which is supply zone and also gann resistance line as shown in below 2 chart, for next move till 17400, Strong support around 16800 zone, Bears will be active only on close below 16800 for a quick move till 16500 . High made today was 17023 bank nifty unable to scale above the supply zone level of 17067 and also the gann resistance line and bears got active below 16800 and saw the decline till 200 DMA, Break of 16700 can again see a quick fall till 16500, Fall on Expiry day are technical in nature so again if we break 16800 tomorrow we can see a quick rise till 17000. Who is in Control When You Trade?
- Bank Nifty May Future Open Interest Volume is at 16.5 lakh with addition of 6.2 lakh, with increase in Cost of Carry suggesting long positions were added today.As of now 73 % Rollover was seen in Bank nifty and Rollover cost is coming at 16860, Do you know your Risk of Ruin in trading ?
- Bank Nifty Futures Trend Deciding level is 16910 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 16910 .How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 16820 Tgt 16929,17050 and 17141 (Bank Nifty Spot Levels)
Sell below 16700 Tgt 16600,16500 and 16400 (Bank Nifty Spot Levels)