Bank Nifty Analysis for 09 Nov

As Discussed in Last Analysis Bank Nifty gave a breakout as per below Gann Chart till bulls are holding 26190-26229 range rally can continue till 26450/26600/26830/27000. Bears below 26150 can see fall towards 26000/25850/25700. Break of today High and low should give 400-500 points move in Bank Nifty. 26830 Bullish target done and Gann date showed its effect with move of 500 points. Now Bulls need to move 27050 for move back to 27300/27500/27774. Bears will get active below 26490 for a move back to 26338/26000/25877.

Intraday time for reversal can be at 9:52/10:54/11:30/12:39/1:37/2:12 How to Find and Trade Intraday Reversal Times

Bank Nifty Nov Future Open Interest Volume is at 19.3 lakh with addition of 0.54 Lakh, with decrease in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @24264 closed above it.

27000 CE is having highest OI @14 Lakh resistance at 27000 followed 27200.25000-27000 CE added 7.1 Lakh in OI so bears added position in the zone of 26000-26300

26500 PE is having highest OI @14.1 Lakh, strong support at 26500 followed by 26300.25000-27000 PE added 12 Lakh OI so bulls making support in the range of 25800-26000.

Bank Nifty Futures Trend Deciding level is 26527 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 26082 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level . ;

Buy Above 26900 Tgt 27050,27300 and 27450 (Bank Nifty Spot Levels)