Bank Nifty near gann arc,Will it Bounce again ?

• Bank Nifty did the extended ABCD target and closed near 16897 which is near 78.6%. Bank NIfty also is near 61.8% zone of last fall so range of 16860-16890 is very important zone also gann arc support zone, which was held on Friday, holding the same we can see rally towards 17170 range where gann trendline lies. Breaking of 16850 can lead to fall towards 16587/16300.  Nifty Options-What happens on Expiration day?

 

• Bank Nifty December Future Open Interest Volume is at 21.6 lakh with addition of 1.67 Lakh with increase in CoC suggesting long position were added today.Bank Nifty rollover cost coming @ 17158 .Can Traders make money in Stock market?
  

• 18000 CE is having highest OI @4.9 Lakh strong resistance formation @18000. 17500 CE added 0.53 lakh so bears added major position as bank nifty unable to close above 16980.17000-18000 CE added 0.79 Lakh in OI.

• 17000 PE is having highest OI @6.6 lakh strong base @17000 followed by 16500 @4 Lakh. Range of Bank Nifty still remains in the range of 16500-17500 start of December series.17000-18000 PE liquidated  0.36 Lakh in OI so liquidation was seen by Bulls.
  

• Bank Nifty Futures Trend Deciding level is 17000 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 17288 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .  Traders who initiated on TC level were handsomely rewarded.
  

Buy above 16980 Tgt 17058,17106 and 17170(Bank Nifty Spot Levels)

Sell below 16900 Tgt 16800,16720 and 16600 (Bank Nifty Spot Levels)

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