Bank Nifty Ready for Big move,EOD Analysis

By | November 14, 2017
  • As discussed in Last Analysis  Low made today was 25337 so bulls were able to protect the gann angle support as shown below , Range of 25250-70 should be held by bulls on closing basis for up move towards 25500/25700. Bearish below 25150 for a for a move towards 25000/24800. Low made today was 25223  and bank nifty bulls held the range of 25250-70 and also closed near the gann angle, also we have time cycle turn date tommrow so we can see high intensity move in bank nifty in next 2 days. Bullish above 25350 for a move towards 25500/25700. Bearish below 25150 for a for a move towards 25000/24800.     Who are you Trader and Gambler ?

  • Bank Nifty Nov Future Open Interest Volume is at 23.2 lakh with liquidation of 0.49 Lakh, with increase in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @24786,closed above it.
  • 25500 CE is having highest OI @5.8 Lakh resistance at 25500 followed 26000.24500-26500 CE added 0.67 lakh in OI so bears added position at higher side.

 

  • 25000 PE is having highest OI @17 Lakh, strong support at 25000 followed by 24800.24500-26500 PE added 0.20 lakh in OI so bulls used fall to add more position as bank nifty continue to hold 25250.

 

Buy above 25310 Tgt 25370,25450 and 25550 (Bank Nifty Spot Levels)

Sell below 25250 Tgt 25200,25130 and 25050 (Bank Nifty Spot Levels)

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