Bank Nifty does Price Time Squaring,EOD Analysis

• As Discussed in Last Analysis   26140-26150 is an important zone as per price levels and 04 Feb is again an important trend change date so we can see possible price time squaring if 26150 is held in next 2 sessions. If we close below 26150 the fall can get extended towards 25700. Hope traders enjoyed the fall which went as per our plan. Bullish above 26530 for a move towards 26634/26780.  Bearish below 26280 for a move towards 26150/26020. Important intraday time for reversal can be at 12:36/1:17. Bank Nifty made low today 25918 near gann angle and also closed near 26100 at the minor trend change date suggesting we have the price time squaring till today’s low is held, Bullish above 26150 for a move towards 26280/26500. Bearish below 25900 for a move towards 25770/25510. Important intraday time for reversal can be at 11:28/1:17   Picking Tops and Bottoms: Does it Helps Trader ?

 

 

• Bank Nifty Feb Future Open Interest Volume is at 19.8 lakh with addition of 0.43 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @27248, closed below it and corrected 900 points.
  

• 27000 CE is having highest OI @4.6 Lakh resistance at 26500 followed 27000.26000-28000 CE added 1.1 lakh in OI so bears added at higher levels.

• 26000 PE is having highest OI @6.3 Lakh, strong support at 26000 followed by 25800.26000-28000 PE  added 2.5 lakh in OI still strong support at 25800-26000 .

 

• Bank Nifty Futures Trend Deciding level is 26164(For Intraday Traders). BNF Trend Changer Level (Positional Traders) 27141.  How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level . 

Buy above 26100 Tgt 26190,26280 and 26374(Bank Nifty Spot Levels)

Sell below 26020 Tgt 25940,25800 and 25650 (Bank Nifty Spot Levels)