Bank Nifty ready for trending move, EOD Analysis

By | January 9, 2017
  • As discussed in Last Analysis  Now as we closed above 18250 as seen in below gunner chart bank nifty can see move towards 18520. Any close below 18250 will see another fall towards 18000. Low made today was 18256 so bank nifty continue to hold 18250 and closed at 18286, suggesting bulls are in control till 18250 is held. Holding the same bank nifty can move towards 18500/18700. Bearish below 18250 for a move towards 18000. Expect a Big move in bank nifty as per time cycle in next 2 trading sessions.  Paul Tudor Jones explaining Why FAILURE is important

  • Bank Nifty Jan Future Open Interest Volume is at 19 lakh with liquidation of 0.7 lakh, with decrease in Cost of Carry suggesting Long positions were closed today. Bank nifty rollover @66.9 and Rollover cost @17905 closed above it.
  • 18500 CE is having highest OI @7.3 Lakh resistance at 18500. 17500-19500 CE saw addition of 1.6 lakh in OI so bears added in 19000 CE suggesting 18500 could be broken if bank nifty sustain above 18250.
  • 18000 PE is having highest OI @ 7.2 Lakh, strong support at 18000 followed by 17500, Bulls added 0.48 Lakh in OI in range of 17500-19500 PE.

Buy above 18310 Tgt 18370,18420 and 18500 (Bank Nifty Spot Levels)

Sell below 18220 Tgt 18150,18080 and 18000 (Bank Nifty Spot Levels)

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