Bank Nifty December Series Overview

By | November 30, 2017
  • As discussed in Last Analysis   Range of 25920-25750 is the neutral zone, breakout/breakdown when this range breaks. In Between the range  buy lower sell higher. Bulls need a close above 25920 for the next move towards 26064/26300. Bearish below 25750 for a move towards 25620/25488/25350. As we have expiry tomorrow and bank nifty near gann angle support as seen in below chart so we can see expiry fireworks. We got the expected expiry fireworks with bank nifty correcting more than 450 points, Bank nifty opened gap down below 25750 and did all targets on downside. This is how gann angle, combined with arc and time helps us in capturing big move, Now for December series 25488 will play crucial role as close above it we can see quick rally towards 25620/25801/25920/26200. Bearish below 25300 for a move towards 25150/24940/24750.  Everyone can play

  • Bank Nifty Dec Future Open Interest Volume is at 16.9 lakh with addition of 5 Lakh, with decrease in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @25844, and rollover %@ 54.4 lower than last 3 months .
  • 26000 CE is having highest OI @7.8 Lakh resistance at 26000 followed 26500.24500-26500 CE added 6 lakh in OI so bears added position at higher level at the start of the series.

 

  • 25000 PE is having highest OI @6.4 Lakh, strong support at 25300 followed by 25000.24500-26500 PE added  8.4 lakh in OI so bulls added position at lower level making base in range of 25500-25200 with start of new series.

 

Buy above 25360 Tgt 25420,25500 and 25610 (Bank Nifty Spot Levels)

Sell below 25300 Tgt 25195,25120 and 25000 (Bank Nifty Spot Levels)

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