Bank Nifty preparing base for another big move,EOD Analysis

By | November 21, 2017
  • As discussed in Last Analysis   Now till bank nifty is holding 25770 we can head towards 26020/26280. Bearish below 25500 for a move towards 25300/25150. Low made was 25681 so bulls were able to protect 25500 but fail to close above 25770 as close was at 25669. So we are in neutral zone now, As major trend change date of 22 Nov is coming so we can see another good move in market. Till 25612 is held bulls have upper hand and can push index towards 25770/25920/26020. Bearish below 25600 for a move towards 25500/25200.   Are you Victim of Sleep Disorder?

  • Bank Nifty Nov Future Open Interest Volume is at 24 lakh with addition of 0.24 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @24786,closed above it.
  • 26000 CE is having highest OI @7.6 Lakh resistance at 26000 followed 26500.24500-26500 CE added 0.39 lakh in OI so bears added partial position at higher level.

 

  • 25000 PE is having highest OI @14.3 Lakh, strong support at 25500 followed by 25000.24500-26500 PE added 1.8 lakh in OI so bulls added position at lower level making base in range of 25500-25550

 

Buy above 25780 Tgt 25830,25880 and 25940 (Bank Nifty Spot Levels)

Sell below 25700 Tgt 25630,25560 and 25000 (Bank Nifty Spot Levels)

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