Bank Nifty form inside day pattern,EOD Analysis

By | February 11, 2017
  • As discussed in Last Analysis Till we do not close above 20500 bulls will be on backfoot and bears will get active only below 20000 In between the range of 20000-20500 we will remain in choppy move, Buy lower sell High is best strategy till we do not close above or below this range.  High made today was 20310 and low made was 20167 so we continue to trade in range as we have discussed and formed inside day pattern Gann Arc again showed its power as bank nifty moved between the 2 arc as shown in below chart, Bullish above 20350 for a move till 20500/20700/21000 and bearish below 20150 for a move till 20000/19850. As per time analysis expect a trending move in market in next 2 days. This Coach Improved Every Tiny Thing by 1 Percent and Here’s What Happened

 

  • Bank Nifty Feb Future Open Interest Volume is at 27.4 lakh with addition of 0.48 lakh, with increase in Cost of Carry suggesting Long positions were closed today. Bank nifty Rollover cost @19080.
  • 21000 CE is having highest OI @7.2 Lakh resistance at 20500 followed by 21000. 19000-21000 CE saw addition of 4.7 lakh in OI so bears added in 20500-21000 CE.
  • 19500 PE is having highest OI @7.5 Lakh, strong support at 19500 followed by 19000, Bulls added 2.3 Lakh in OI in range of 19000-21000 major addition in 18700-19200 PE.

Buy above 20300 Tgt 20370,20430 and 20550 (Bank Nifty Spot Levels)

Sell below 20150 Tgt 20080,20000 and 19850 (Bank Nifty Spot Levels)

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2 thoughts on “Bank Nifty form inside day pattern,EOD Analysis

  1. Bramesh Post author

    No what i wrote is correct there are few more parameters we look for

  2. Kamlakar Mohite

    Hello Sir. Please correct as “Bank Nifty Feb Future Open Interest Volume is at 27.4 lakh with addition of 0.48 lakh, with increase in Cost of Carry suggesting Long positions were Added today instead of closed today” If I am right. Thanks.

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