Bank Nifty Bulls hold on to 25500 ,EOD Analysis

• As Discussed in Last Analysis  Bank Nifty continued its uptrend making new high of 25803 and closing above 25700. We have another time cycle date on 11 Jan so we should get good move in bank nifty towards life high till we are holding 25600 levels.Bulls need to hold 25600 for the upmove to continue towards  25871 where gann angle resistance lies and above it towards 25920 vedic number and 26000 psychological resistance. Bearish below 25500 for a move towards 25250/25000.  Low made today was 25527 and close was above 25600 so bulls were able to hold 25500 and also close above 25600 so today’s dip was bought into. Holding 25600 we can rally towards 25750/25871/25953. Tomorrow is important trend change date.Bearish below 25500 for a move towards 25250/25000.  Mastering Short-Term Trading

 

• Bank Nifty Jan Future Open Interest Volume is at 18.5 lakh with liquidation of 1.69 Lakh, with increase in Cost of Carry suggesting short positions were closed today. Bank nifty Rollover cost @25671, and closed below it.
  

• 26000 CE is having highest OI @16 Lakh resistance at 26000 followed 25800.24500-26500 CE added 0.35 lakh in OI so bears added position in 25800-26000.
  

 

• 25000 PE is having highest OI @8 Lakh, strong support at 25300 followed by 25000.24500-26500 PE liquidated 0.07 lakh in OI strong support at 25200-25400.

 

• Bank Nifty Futures Trend Deciding level is 25625 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 25554.  How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level . 

Buy above 25640 Tgt 25720,25790 and 25871 (Bank Nifty Spot Levels)

Sell below 25580 Tgt 25520,25470 and 25400 (Bank Nifty Spot Levels)