Bank Nifty Bulls Continue to protect 24788,EOD Analysis

By | September 16, 2017
  • As discussed in Last Analysis Bearish below 24480 for a move towards 24336/24180/24000.  Gann angle line supported bank nifty yesterday and today it did 24995, Now Bulls need to hold 24788 for a move towards 25200/25500. Bearish below 24480 for a move towards 24336/24180/24000. Low made was 24791 so bulls continue to hold 24788 even though we had geo political concerns, Till 24788 is held another attempt will be made to reach 25000/25200.Bearish below 24480 for a move towards 24336/24180/24000. Daring greatly requires worthiness

  • Bank Nifty Sep Future Open Interest Volume is at 24 lakh with liquidation of 0.13 Lakh, with decrease in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @24345 closed above it rallied 600 points above it.

 

  • 25000 CE is having highest OI @7.4 Lakh resistance at 25000 followed 25200. 24000-26000 CE added 2.6 lakh so bears added major position  in 25000/25200 CE.

 

  • 24000 PE is having highest OI @15.1 Lakh, strong support at 24000 followed by 24500, Bulls added 1.6 Lakh position in OI in range of 24000-26000.

 

Buy above 24920 Tgt 25001,25080 and 25180 (Bank Nifty Spot Levels)

Sell below 24800 Tgt 24730,24640 and 24520 (Bank Nifty Spot Levels)

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