- Bank Nifty got sold off again from gann trendline breaking the previous swing low of 15762 by making a new low of 15700 near the . Generally break of swing low and closing near it can see up move in Bank nifty in near time till 15700 is held. Bullish only on close above 16150. Understanding Market Sentiment
- Bank Nifty December Future Open Interest Volume is at 28.9 lakh with addition of 3.9 Lakh with increase in Cost of Carry suggesting long positions were added today .Bank Nifty rollover cost coming @ 16957 and corrected heavily one started trading below Rollover Price.Can Traders make money in Stock market?
- 17000 CE is having highest OI @6.8 Lakh strong resistance formation @17000. 16500 CE added 1.44 lakh so bears continue to add position trading below the demand zone .16000-17000 CE added 4.6 Lakh in OI, aggressive addition shown by bears,Highest addition seen in this series.
- 15500 PE is having highest OI @6.5 lakh, strong support at 15500 and before that 16000 .16500-15500 PE added 0.77 Lakh so bulls are preparing strong base at 15500.
Buy above 15850 Tgt 15950,16080 and 16200 (Bank Nifty Spot Levels)
Sell below 15700 Tgt 15610,15460 and 15300 (Bank Nifty Spot Levels)
Click Here to Like Facebook Page get Real time updates