- Thanks all for your emails and msgs, break of trading is necessary to get your brain cells recharged and to see charts from the new dimensions. Bank Nifty has done nothing from the last 4 trading sessions, as prices have been struggling at gann angles as shown in below chart. Time analysis worked again as short term top at 25780 was done on 20 Dec. Bank Nifty bulls need to protected 25448 for up move towards 25611/25770. Bearish below 25400 for a move towards 25250/25060. A Stock Traders Story– Why Aren’t We Rich Daddy?
- Bank Nifty Dec Future Open Interest Volume is at 10.3 lakh with liquidation of 2.5 Lakh, with decrease in Cost of Carry suggesting Long positions were closed today. Bank nifty Rollover cost @25844, closed below it.
- 26000 CE is having highest OI @18.5 Lakh resistance at 25800 followed 26000.24500-26500 CE added 13.5 lakh in OI so bears added position and expiry looking below 25800.
- 25000 PE is having highest OI @11.8 Lakh, strong support at 25300 followed by 25000.24500-26500 PE liquidated 6.7 lakh in OI so still strong support at 25300,below that can lead fast fall towards 25000.
- Bank Nifty Futures Trend Deciding level is 25621 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 25394. How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 25555 Tgt 25650,25730 and 25840 (Bank Nifty Spot Levels)
Sell below 25450 Tgt 25380,25250 and 25100 (Bank Nifty Spot Levels)
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