Bank Nifty EOD Analysis for 13 Sep

By | September 13, 2017
  • As discussed in Last Analysis New Time Cycle will start from 11 Sep so hopefully we will see a good move soon. New Time Cycle started out, breakout happened above 24510 and did the first target 24735, so both price and time were in favor and we got the big move. Bank Nifty above 24768 can see move towards 24912/25050. Bearish below 24480 for a move towards 24336/24180/24000. As soon as 24768 was broken bulls went long and did high of 24821 and also closed above 24768, so till 24480 not broken bulls will have upper hand and can push bank nifty towards 24912/25050/25200. Bearish below 24480 for a move towards 24336/24180/24000. Build up your confidence as a trader

  • Bank Nifty Sep Future Open Interest Volume is at 25.1 lakh with addition of 1.7 Lakh, with decrease in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @24345 closed above it rallied 500 points above it.

 

  • 25000 CE is having highest OI @7.5 Lakh resistance at 25000 followed 25200. 24000-26000 CE added 0.65 lakh so bears added major position  in 25000/25200 CE.

 

  • 24000 PE is having highest OI @12.1 Lakh, strong support at 24000 followed by 24500, Bulls added 1 Lakh position in OI in range of 24000-26000.

 

Buy above 24800 Tgt 24851,24920 and 25020 (Bank Nifty Spot Levels)

Sell below 24730 Tgt 24680,24590 and 24480 (Bank Nifty Spot Levels)

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