- As discussed in Last Analysis Bank Nifty held on to gann angle as shown in the below chart and yesterday closed above 24151 and today disciplined traders were rewarded with big bang opening and did all targets, Now Bulls need a close above 25050 for the next move 25200/25560. Bearish below 24928 for a move towards 24840/24600. High made today was 25186 near all time high of 25197 and our target of 25200, but still bulls are not able to close above 25050, Bulls need a close above this level for next move towards 25200/25560/25920. Bearish below 24928 for a move towards 24840/24600/24476/24000. As per time analysis 27 Oct is another important trend change date for Bank nifty. What to do after Big Trading Loss
- Bank Nifty Nov Future Open Interest Volume is at 16.9 lakh with addition of 5 Lakh, with decrease in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @24786 with healthy rollover of 66.9% closed above it.
- Bank Nifty Futures Trend Deciding level is 25093 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 25093 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 25050 Tgt 25145,25250 and 24340 (Bank Nifty Spot Levels)
Sell below 24990 Tgt 24920,24810 and 24690 (Bank Nifty Spot Levels)
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Thanks for your analysis
thanks…