- As discussed in last analysis 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 . Low made today was 18322 near the gann angle and high made was 18650 which was near our 1 target as shown in below chart and we saw pause in the ongoing correction. Now Bulls need a close above 18721 for a move towards 19000/19300. Bears will get active only on close below 18250 for a move towards 18000/17800.
- Bank Nifty Nov Future Open Interest Volume is at 24.3 lakh with liquidation of 1.2 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 @10.2 Lakh resistance at 19500. 18500-20500 CE saw addition of 1.4 lakh in OI so bears added aggressively in range of 18700/19000 CE.
- 18000 PE is having highest OI @8.3 Lakh, strong support at 18000 followed by 17500, Bulls added 2.6 Lakh in OI in 18000-20000 PE addition by bears in range of 18000/18300.
- Bank Nifty Futures Trend Deciding level is 18498 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 19326 .How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 18600 Tgt 18680,18800 and 19000 (Bank Nifty Spot Levels)
Sell below 18480 Tgt 18380,18200 and 18050 (Bank Nifty Spot Levels)
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