Bank Nifty Analysis shows small pullback below 27400,EOD Analysis

• As Discussed in Last Analysis Low made today was 27408 as soon as 27485 was broken bulls took bank nifty towards 27652 but failed to achieve our target of 27780,As close is above 27485 so bulls have upperhand and can move towards our target of 27780 as close is also above gann angle. Bearish below 27400 for a move towards 27225/27151/27000.  Bank Nifty opened with gap down below 27485 was bearish level of 25400 was triggered and did our 1 target. Below 27250 we can fall towards 27151/27000. Bullish above 27485 for a move towards 27652/27777/28000.As we have monthly closing tommrow bulls would like to close above 27300.   Option Trading Strategy for Union Budget 2018

 

 

• Bank Nifty Feb Future Open Interest Volume is at 21.6 lakh with liquidation of 1.1 Lakh, with increase in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @27248, closed above it
  

• 28000 CE is having highest OI @4.3 Lakh resistance at 28000 followed 28500.27000-29000 CE added 1.2 lakh in OI so bears added at higher levels.

• 27000 PE is having highest OI @4.5 Lakh, strong support at 27200 followed by 27000.26000-29000 PE  liquidated 0.9 lakh in OI still strong support at 27000-27100 .

 

• Bank Nifty Futures Trend Deciding level is 27384 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 27434.  How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level . 

Buy above 27330 Tgt 27400,27470 and 27555 (Bank Nifty Spot Levels)

Sell below 27250 Tgt 27190,27100 and 27000 (Bank Nifty Spot Levels)