Bank Nifty ready for Big move,EOD Analysis

• As Discussed in Last Analysis  Low made today was 25527 and close was above 25600 so bulls were able to hold 25500 and also close above 25600 so today’s dip was bought into. Holding 25600 we can rally towards 25750/25871/25953. Tomorrow is important trend change date.Bearish below 25500 for a move towards 25250/25000. Low made today was 25533 so bulls again held the forte at 25500 and again closed above 25600, Now we are waiting for target of  25750/25871/25953. As today was TC date, price set up also indicating bank nifty is ready for a trending move, Break of today high and low can easily give 200-250 point move.Bearish below 25500 for a move towards 25250/25000. Mastering Short-Term Trading

 

• Bank Nifty Jan Future Open Interest Volume is at 18.2 lakh with liquidation of 0.30 Lakh, with decrease in Cost of Carry suggesting short positions were closed today. Bank nifty Rollover cost @25671, and closed at border line
  

• 26000 CE is having highest OI @15.9 Lakh resistance at 26000 followed 25800.24500-26500 CE liquidated 0.19 lakh in OI so bears covered partial position in 25800-26000.
  

 

• 25000 PE is having highest OI @8.3 Lakh, strong support at 25300 followed by 25000.24500-26500 PE  added 1.5 lakh in OI strong support at 25200-25400.

 

• Bank Nifty Futures Trend Deciding level is 25639 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 25562.  How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level . 

Buy above 25700 Tgt 25770,25870 and 25971 (Bank Nifty Spot Levels)

Sell below 25620 Tgt 25520,25470 and 25400 (Bank Nifty Spot Levels)