Bank Nifty close above 18915, EOD Analysis

• As discussed in Last analysis  Now for Bulls we need a close above 19158 for a move towards 19500,bear will get active on close below 18915 for a target of 18500. Bulls again fail to close above 19158 and bears failed to close below 18915 suggesting RBI was a non event. Bulls need a close above 19028 for a move till 19158/19230 and bears below 18915 for a move till 18736/18663/18590.   Why You Can’t Cut Losses

 

• Bank Nifty Aug Future Open Interest Volume is at 19.5  lakh with addition of 1.1 lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty closed below Rollover cost  19030 closed below it.  Do you know your Risk of Ruin in trading ?

• 19500 CE is having highest OI @5.8 Lakh resistance formation @19500. 18500-20500 CE saw 1.93 lakh addition in OI so bears continue to add in 19500-20000 CE.

• 18500 PE is having highest OI @5.3 Lakh, strong support at 18500 followed by 18000, Bulls added 1.74 Lakh in OI in 17500-19500 PE  so bulls making support in zone of 18500.

• Bank Nifty Futures Trend Deciding level is 18931 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 18988 .How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level . 

Buy above 18950 Tgt 19010,19068 and 19158 (Bank Nifty Spot Levels)

Sell below 18880 Tgt 18820,18750 and 18650 (Bank Nifty Spot Levels)

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