Bank Nifty shows range expansion,EOD Analysis

• As we have been discussing in past few session big move is round the corner as prices are contracting in the triangle.Bank Nifty obliged by giving big move as soon it started trading above 17170 and showed range expansion on upside,closed above gann trendline and now heading towards the crucial supply zoen of 17466 where we also have trendline resistance Support remains at 17170 and below that 16980. How Professional Traders Learn From Their Trading Mistakes

 

• Bank Nifty December Future Open Interest Volume is at 19.7 lakh with addition of 1.8 Lakh with decrease in CoC suggesting short position were added today.Bank Nifty rollover cost coming @ 17158 .Can Traders make money in Stock market?
  

• 18000 CE is having highest OI @3.3Lakh strong resistance formation @18000. 17500 CE added 0.45 lakh so bears added position but will they be able to hold as Bank Nifty closed above gann signal line.17000-18000 CE added 2 Lakh in OI on first day of series.

• 17000 PE is having highest OI @4.6 lakh strong base @17000 followed by 16500 @3.2 Lakh. Range of Bank Nifty still remains in the range of 16500-17500 start of December series.17000-18000 PE added 3 Lakh in OI on first day of series.
  

• Bank Nifty Futures Trend Deciding level is 17351 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 17251 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .  Traders who initiated on TC level were handsomely rewarded.
  

Buy above 17410 Tgt 17466,17550 and 17620(Bank Nifty Spot Levels)

Sell below 17250 Tgt 17160,17080 and 16920 (Bank Nifty Spot Levels)

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