Bank Nifty November Expiry Analysis

By | November 23, 2016
  • As discussed in last analysis  Now Bulls need a close above 18721 for a move towards 19000/19300. Bears will get active only on close below 18250 for a move towards 18000/17800. Bank Nifty was unable to move above 18721 and bears unable to close below 18250,in between choppy move will continue, Close above 18721 can push bank nifty towards 18000/18300.

bank-nifty-support

  • Bank Nifty Nov Future Open Interest Volume is at 20.4 lakh with liquidation of 3.9 lakh, with increase in Cost of Carry suggesting short positions were added today. Bank nifty continued to trade below rollover price @19750 and corrected 400 points.
  • 19000 CE is having highest OI @9 Lakh resistance at 19000. 18500-19000 CE saw addition of 5.7 lakh in OI so bears added aggressively in range of 18700/19000 CE.
  • 18000 PE is having highest OI @9.2 Lakh, strong support at 18000 followed by 17500, Bulls added 6.1 Lakh in OI in 18000-18500 PE  addition by bears in range of 18400/18500.

Buy above 18600 Tgt 18660,18720 and 18870 (Bank Nifty Spot Levels)

Sell below 18520 Tgt 18440,18350 and 18220 (Bank Nifty Spot Levels)

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7 thoughts on “Bank Nifty November Expiry Analysis

  1. V K Sinha

    Hi Bramesh Ji, I have also recently started to see your analysis on NIFTY & Banknifty and appreciate your work for very good analysis for the same & to motivate good traders…

  2. FLORINA MATHEW

    Hi Bramesh, I have recently started following your analysis on NIFTY and I am impressed by the same. Thank you for sharing your valuable knowledge with all of us. Btw there is no NIFTY analysis today just BankNifty.

  3. greenwireindian

    Brahmesh there is a typo, “Close above 18721 can push bank nifty towards 18000/18300.” should be “towards 19000/19300”

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