- As discussed in Last analysis Further bearishness can be seen below 18550 for move till 18280/18070. For next 2 days close above 18814 can see fast move till 19000. Bullish above 19158 for move till 19374/19509. Bank Nifty made low of 18542 unable to close below 18550 suggesting market taking breather before the GST Bill drama is out. Now Finally GST has been passed, so as a trader you should not get overexcited and blindly trade. Plan Your Trade and Trade your plan should be golden mantra of trader. Bank Nifty is bullish above 18750 for another move towards 18915/19000. Bulls need a close above 19158 for target till 19500,Bears below 18550.Bank Nifty still trading near horizontal line suggesting impulsive move on cards. GST Impact on stocks
- Bank Nifty Aug Future Open Interest Volume is at 19.5 lakh with addition of 0.45 lakh, with decrease in Cost of Carry suggesting short positions were added today. Bank nifty closed below Rollover cost 19030 closed belowit. Do you know your Risk of Ruin in trading ?
- 19500 CE is having highest OI @4.5 Lakh resistance formation @19500. 18500-20500 CE saw 0.92 lakh addition in OI so bears are adding aggressive position in 19500-20000 CE.
- 18500 PE is having highest OI @3.7 Lakh, strong support at 18500 followed by 18000, Bulls added 0.58Lakh in OI in 17500-19500 PE so bulls support in zone of 18500.
Buy above 18750 Tgt 18825,18940 and 19020 (Bank Nifty Spot Levels)
Sell below 18550 Tgt 18410,18205 and 18000 (Bank Nifty Spot Levels)
Click Here to Like Facebook Page get Real time updates
Click Here to Join me on Twitter