- As discussed in past analysis Bank Nifty finally was able to close above 19000 only which as per gann suggests we are entering in next orbit and bank nifty can move till 19374/19509. Bearish only on close below 18711. Now Bulls need a close above 19158 for next move till 19374/19509. Bearish on close below 18950 for move towards 18711. Bank Nifty failed to close above 19000 and but also unable to close below 18950, suggesting sideways mode, whipsawing both bulls and bears. The main aim of trader is to take small SL so to be in the market, Bearish on close below 18950 for a move till 18711 and bullish above 19158 for move till 19374/19509. Enjoy your life at every moment
- Bank Nifty Aug Future Open Interest Volume is at 17.2 lakh with addition of 6.8 lakh, with increase in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover is 68 % Rollover cost is coming at 19030 Do you know your Risk of Ruin in trading ?
- 19500 CE is having highest OI @2.9 Lakh resistance formation @19500. 18500-20500 CE saw 3.4 lakh addition in OI so bears are adding aggressive position in 19500-20000 CE.
- 18500 PE is having highest OI @2.8 Lakh, strong support at 18500 followed by 19000, Bulls added 1.8 Lakh in OI in 18500-20500 PE so bulls support in zone of 18500.
- Bank Nifty Futures Trend Deciding level is 19050 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 19108 .How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 18978 Tgt 19044,19136 and 19202 (Bank Nifty Spot Levels)
Sell below 18888 Tgt 18821,18730 and 18620 (Bank Nifty Spot Levels)
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BASED ON YOUR ABOVE ARTICLE WITHOUT LOOKING AT SPOT BANK NIFTYLEVEL
CAN I WATCH ONLY Bank nifty FUTURE AUG 2016 AND TAKE THE FOLLOWING DECISION FOR THIS WEEK
BUY ABOVE 19080 TGT 19144,19236, 19302
SELL BELOW —-18988————18922, 18831, 18721
Plan your trade trade your plan with proper risk and money management ..
what about BANKNIFTYAUG future??……what are the main support and resitance level for buy and sell…??
levels are mentioned..