Bank Nifty makes new 52 Week Low,EOD Analysis

•  Bank Nifty closed below 14251 and saw the decline and the big move also came which we have discussed here, Gann Arc showed its effect again as Bank nifty unable to cross the gann arc and achieved the target of  13810-13890 and made new 52 week low, Now we have gann support in range of 13600-13500 range where we can see some bounceback.Bullish only on close above 14143.  How to Improve Trading Success

 

• Bank Nifty February Future Open Interest Volume is at 17.2  lakh with liquidation of 3.6 lakh  with increase in Cost of Carry suggesting short positions were closed today. Rollover stand at 51 % and Rollover price @14210.Bank Nifty  again gave 1500 points move below rollover cost @ 15441. How To Identify Market Tops and Bottom
  

• 14000 CE is having highest OI @4.3 Lakh strong resistance formation @14000. 13500-14000 CE saw 6.4 lakh addition as bank nifty closed below 14000 .
  

• 13500 PE is having highest OI @3.5 Lakh, strong support at 13500, Bears added aggressively in 13800/13700  PE.14000-14500 PE saw 2.8 lakh liquidation bulls ran for cover.
  

• Bank Nifty Futures Trend Deciding level is 13854 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 14189 .How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level . 

Buy above 13850 Tgt 13920,14040 and 14130 (Bank Nifty Spot Levels)

Sell below 13710 Tgt 13620,13500 and 13280 (Bank Nifty Spot Levels)

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