Bank Nifty forms DOJI near gann arc,EOD Analysis

• As discussed in Last analysis  Bank Nifty almost did the Wolf Wave pattern as we discussed, Now range of 20600-20675  is very cruical as this is next important gann level to be watched before heading towards all time high. Bears will get active below 20100 only. High made today was 20477, and close below 20491, Low made was near gann arc . Bulls need a close above 20491 and also close above 20675 for a next move towards the all time high. Bears have chance only below 19990. As per gunner chart we can expect another impulsive move of 200-300 point in next 2 trading session.  What separates amateur traders from the pros?

• Bank Nifty Sep Future Open Interest Volume is at 28.9 lakh with liquidation of 0.10 lakh, with fall in Cost of Carry suggesting long positions were closed today. Bank nifty closed above Rollover cost ,rallied 1000 points.  Do you know your Risk of Ruin in trading ?

• 20000 CE is having highest OI @6.2 bears not covering major shorts eventhough bank nifty closed way above 20000 . 18500-20500 CE saw 0.06  lakh addition in OI so bears are adding in 20500 CE.

• 19000 PE is having highest OI @8.1 Lakh, strong support at 19000 followed by 19500, Bulls added 3 Lakh in OI in 18500-20500 PE  so bulls making support in zone of 19800-19900 zone.

• Bank Nifty Futures Trend Deciding level is 20507 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 19862  .How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level . 

Buy above 20500 Tgt 20550,20620 and 20700(Bank Nifty Spot Levels)

Sell below 20370 Tgt 20300,20250 and 20150 (Bank Nifty Spot Levels)

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