Bank Nifty cracks below gann angle,EOD Analysis

• As discussed in last analysis  Next Week will be very interesting as we can see move of 400-600 points in 1-2 days as price do not stay near gann angles for long. Bulls will become active above 19000 for a move till 19220/19450. Bears are already active below 19000 and can push nifty towards 18750/18600 till trading below 19000. We expected a 400-600 point fall,and we got today and bank nifty moved from 1 gann angle to another gann angle as seen in below chart. Now range of 18300-18250 is important as its gann number and also gann angle so holding this we can see relief rally till 18625/18800. Bearish below 18250 for a move towards 18000/17800  The Success Story Of Arnold Schwarzenegger
  

• Bank Nifty Nov Future Open Interest Volume is at 16.6 lakh with liquidation of 8 lakh, with increase in Cost of Carry suggesting short positions were added today. Bank nifty continued to trade below rollover price @19750 and corrected 400 points.
  

• 19500 CE is having highest OI @10 Lakh resistance at 19500. 18500-20500 CE saw addition of 17.2 lakh in OI so bears added aggressively in range of 18700/19000 CE.

• 18000 PE is having highest OI @6.5 Lakh, strong support at 18000 followed by 17500, Bulls liquidated 4.7 Lakh in OI in 18500-20500 PE  major liquidation was seen by bears.

• Bank Nifty Futures Trend Deciding level is 18581 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 19378 .How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level . 

Buy above 18625 Tgt 18720,18800 and 18900 (Bank Nifty Spot Levels)

Sell below 18350 Tgt 18180,18000 and 17900 (Bank Nifty Spot Levels)

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