Bank Nifty rallies 400 points from gann angle,EOD Analysis

• As discussed in Last Analysis   Price move from 1 gann angle to another one as shown in below chart, Till 24000 is held we can again see bounce back towards 24270/24358/24476. Bearish below 24200 for a move till 24100/23963. Time Cycle again gave us caution signal as 11 Oct we saw the big move. Low made today was 24378 in opening trade and as soon as bulls were able to hold 24000 big rally started doing 24278/24358 target in single session,Time Cycle effect was visible as after 11 Oct we saw a good trend reversal move, Now bulls need to move above 24400 for a move towards 24476/24545/24731. Bearish below 24300 for a move towards 24171/23984.  Are You a trader and a gambler

• Bank Nifty Oct Future Open Interest Volume is at 22.7  lakh with liquidation of 2.4 Lakh, with increase in Cost of Carry suggesting short positions were closed today. Bank nifty Rollover cost @24098 closed above it gave intraday  trade today,bounced 300 points.
  

 

• 24500 CE is having highest OI @7.6 Lakh resistance at 24500 followed 24300.23500-25500 added 2 lakh in OI so bears added position in today rally, any move above 24500 will see fast rise in bank nifty
  

 

• 24000 PE is having highest OI @13.3 Lakh, strong support at 23800 followed by 24000.23500-25500 added 1.9 lakh in OI so bulls making support in range of 23900-24000.

 

• Bank Nifty Futures Trend Deciding level is 24210 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 24180 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level . 

Buy above 24400 Tgt 24476,24530 and 24600 (Bank Nifty Spot Levels)

Sell below 24320 Tgt 24260,24150 and 24000 (Bank Nifty Spot Levels)

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