- Bank Nifty did the Shark pattern target 16523 , and should now head for the next target of 16254 once sustained below 16450 for 1 hour,which is also strong demand zone of 16287. Price action near 16254-16280 is important to know the next move.Bullish only on close above 16771.How Important is Trading Psychology?
- Bank Nifty December Future Open Interest Volume is at 22.5 lakh with addition of 1.7 Lakh with decrease in Cost of Carry suggesting short positions were added today .Bank Nifty rollover cost coming @ 16957 and corrected heavily one started trading below CoC Price.Can Traders make money in Stock market?
- 17500 CE is having highest OI @5.6 Lakh strong resistance formation @17500. 17000 CE added 0.89 lakh so bears added their positions aggressively once trading below rollover price .16500-17500 CE added 2.5 Lakh in OI, addition shown by bears.
- 16500 PE is having highest OI @5.1 lakh, strong support at 16500 followed by 16000 PE .16000-17000 PE added 0.86 Lakh in OI addition was seen by Bulls even though bank nifty closed in red break of 16500 can see fast unwinding of positions.
- Bank Nifty Futures Trend Deciding level is 16602 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 16837.How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 16570 Tgt 16650,16740 and 16840 (Bank Nifty Spot Levels)
Sell below 16450 Tgt 16370,16290 and 16200(Bank Nifty Spot Levels)
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Sir, Can you share bank nifty range for Jan series