- As discussed in Last Analysis Bank Nifty broke 18150 but quickly recovered and again closed above 18200 and gann angle suggesting still the range was not broken. Till we are trading in range of 18200-18700 Buy support and Sell resistance is the best strategy. Bank Nifty again bounced from gann angles support zone as we have been discussing from past many sessions even after RBI policy Bank Nifty was unable to close below 18200, still we are in range of 18200-18700 till the range is not broken buy support around 18200 sell resistance near 18680-18700 as and when it comes. How Comfortable you are with your trading ?
- Bank Nifty Dec Future Open Interest Volume is at 19.4 lakh with liquidation of 2.9 lakh, with decrease in Cost of Carry suggesting short positions were closed today. Bank nifty rollover @60.4 and Rollover cost @18580 closed below it.
- 19000 CE is having highest OI @5.7 Lakh resistance at 19000. 18000-20000 CE saw liquidation of 0.31 lakh in OI so bears liquidated in 19000-19300 CE suggesting break of 18700 on cards.
- 18000 PE is having highest OI @ 8 Lakh, strong support at 18000 followed by 17500, Bulls addition 1.2 Lakh in OI in range of 17500-20000 PE. As discussed yesterday analysis No aggressive liquidation was seen by bulls even after 600 points intraday volatility. We got the expected rally today.
- Bank Nifty Futures Trend Deciding level is 18521 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 18444 .How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 18550 Tgt 18603,18692 and 18800 (Bank Nifty Spot Levels)
Sell below 18450 Tgt 18380,17250 and 18160(Bank Nifty Spot Levels)
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