- As discussed in Last Analysis When both time and price meet big move happens, another good example we saw today, 23 Sep effect was seen today as we closed below our Divine Number of 24480 which has give very good trades in last 2 months, so till we are trading below 24480 we can see fall towards 24151/23963. Bullish above 24510 for a move towards 24800. Fall continues and went towards our next target of 24151 but was not able to ultimate target of 23963 should be done tommrow. Fresh shorts should be taken below 23963 for next move towards 23755/23540. Bullish above 24367 for a move towards 24480/24650. Bank Nifty continue to hold 24000, and today was trend change date so todays high and low are important break of 24236 will see move towards 24480/24610. Bearish below 23963 for next move towards 23755/23540. Do You Stick to Losing Positions in Trading ?
- Bank Nifty Sep Future Open Interest Volume is at 18.2 lakh with addition of 0.13 Lakh, with decrease in Cost of Carry suggesting short positions were closed today. Bank nifty Rollover cost @24345 closed below it corrected 300 points below it.
- 25000 CE is having highest OI @14.2 Lakh resistance at 24500 followed 25000. 24000-26000 CE added 3.1 lakh so bears added major position in 24500/24300 CE.
- 24000 PE is having highest OI @15.5 Lakh, strong support at 24000 followed by 24500, Bulls liquidated 1.2 Lakh position in OI in range of 24000-26000.
- Bank Nifty Futures Trend Deciding level is 24175 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 24596 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 24240 Tgt 24300,24370 and 24470 (Bank Nifty Spot Levels)
Sell below 24140 Tgt 24065,23980 and 23845 (Bank Nifty Spot Levels)