- As discussed in Last Analysis Its been 9 trading days we are stuck in gann arc, Plan remains the same long above 20350 for a move till 20500/20750. Bearish below 20000 for a move till 19794/19500. As a trader there is a time where you just sit on sidelines and wait for your level to come, till it does not come trader need to act like a LION waiting for its prey to come. Most of traders lack this and end of entering on wrong level and end results is loss. Wait till your chance come. How to Prepare for a trading day
- Bank Nifty Feb Future Open Interest Volume is at 26.4 lakh with liquidation of 1.1 lakh, with increase in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @19080.
- 21000 CE is having highest OI @8.5 Lakh resistance at 20500 followed by 21000. 19000-21000 CE saw addition of 6.6 lakh in OI so bears added in 20500-21000 CE.
- 19500 PE is having highest OI @6.2 Lakh, strong support at 19500 followed by 19000, Bulls added 6.3 Lakh in OI in range of 19500-20000.
Buy above 20270 Tgt 20330,20430 and 20550 (Bank Nifty Spot Levels)
Sell below 20100 Tgt 20000,19800 and 19650 (Bank Nifty Spot Levels)
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