- As discussed in Last analysis Bank Nifty closed below 19500 yesterday and did the target of 19300 also in gap down as bank nifty was not able to close above gann angle, now the range of 19100-19113 is very important holding the same and moving above 19252 can see move till 19543.Bear need close below 19100 for move towards 19000/18850. Close below 19000 can see fast move till 18850. Low mad today was 18961 but close above 19000, so bulls were able to protect 19000 range. Bank Nifty is forming a Bullish ABCD pattern which got completed in the range of 18950-18961, so holding this range we can see bounce back till 19252/19400. Bearish below 18950 for a target of 18850/18750. Arrogance, in varied degrees, before the fall starts
- Bank Nifty Nov Future Open Interest Volume is at 19.4 lakh with addition of 0.37 lakh, with increase in Cost of Carry suggesting long positions were closed today. Bank nifty closed below Rollover cost 19750. Do you know your Risk of Ruin in trading ?
- 19500 CE is having highest OI @6.7 Lakh resistance at 19500. 19000-21000 CE saw addition of 0.80 lakh in OI so bears added aggressively in 19500 CE.
- 19000 PE is having highest OI @8.4 Lakh, strong support at 19000 followed by 18500, Bulls added 2.44 Lakh in OI in 18500-20500 PE .
Buy above 19100 Tgt 19200,19350 and 19460 (Bank Nifty Spot Levels)
Sell below 18930 Tgt 18830,18760 and 18700 (Bank Nifty Spot Levels)
Click Here to Like Facebook Page get Real time updates
Click Here to Join me on Twitter