Coronavirus Vaccine Update:Bank Nifty Analysis

As Discussed in Last Analysis 26830 Bullish target done and Gann date showed its effect with move of 500 points. Now Bulls need to move 27050 for move back to 27300/27500/27774. Bears will get active below 26490 for a move back to 26338/26000/25877. Bank Nifty made low of 27068 so bulls go entry and did 2 target on upside and we have seen the effect of 05 Nov Gann Datenow we are expecting another gap up open tommrow based on COVID-19 vaccine annoucement As per gann analysis Range of 28070-28225 will act as a resistance zone,so longs should use this range to book profits as and when it come. Bears will get active below 27450 for a move back to 27200/27000/26873.

Intraday time for reversal can be at 9:49/10:58/11:43/1:36/2:21 How to Find and Trade Intraday Reversal Times

Bank Nifty Nov Future Open Interest Volume is at 17.7 lakh with liquidation of 1.5 Lakh, with increase in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @24264 closed above it.

28000 CE is having highest OI @14 Lakh resistance at 28000 followed 28300.27000-29000 CE added 4.1 Lakh in OI so bears added position in the zone of 28000-28300

27000 PE is having highest OI @4.1 Lakh, strong support at 27000 followed by 26500.27000-28000 PE added 12 Lakh OI so bulls making support in the range of 27000-27300.

Bank Nifty Futures Trend Deciding level is 26331 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 26929 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level . ;

Buy Above 27800 Tgt 27950,28100 and 28257 (Bank Nifty Spot Levels)