Bank Nifty rallies 900 points in 2 days holding 25900,EOD Analysis

• As Discussed in Last Analysis  We have been discussing a low above 25920 in our previous post  Bank Nifty bulls protected both 25900 and 25920 as low made was 25922, this is how gann analysis helps you in giving an extra edge. Bank Nifty bulls moved above 26010 and did 2 target on upside and now waiting for 26500. Range of 26530-569 is very very important zone of supply. Bearish below 26000 for a move towards 25920/25770. Bank Nifty did the target as we expected, in fact exceeded the expectation. Also closed above the range 26530. Bank Nifty  bulls needs to hold the range of 26200-250 for the up move to continue. Bearish below 26000 for a move towards 25920/25770. Why Swing Trading Is Favorable For Beginner Traders?

 

• Bank Nifty Jan Future Open Interest Volume is at 23 lakh with liquidation of 0.13 Lakh, with decrease in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @25671, and closed above it and zoomed 1000 points.
  

• 27000 CE is having highest OI @8.2 Lakh resistance at 27000 followed 26500.25000-25700 CE added 5.6 lakh in OI so bears added  in 26700-27000 CE.
  

 

• 26000 PE is having highest OI @7.8 Lakh, strong support at 26000 followed by 26200.25500-27000 PE  added 8 lakh in OI strong support at 26000-26200.

 

• Bank Nifty Futures Trend Deciding level is 26629 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 25723.  How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level . 

Buy above 26540 Tgt 26610,26700 and 26810 (Bank Nifty Spot Levels)

Sell below 26500 Tgt 25400,26350 and 26200 (Bank Nifty Spot Levels)