Will Bank Nifty Bulls close above 25776 on Trend Change Date

By | November 21, 2017
  • As discussed in Last Analysis    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.  Low made was 25726 and high made was 25871 so bulls continue to move higher as tommrow is trend change date so bulls need a close above 25776 for a move towards 25920/26064. Bearish only below 25612 for a move towards 25488/25350.  Are you Victim of Sleep Disorder?

  • Bank Nifty Nov Future Open Interest Volume is at 23.96 lakh with liquidation of 0.06 Lakh, with decrease in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @24786,closed above it.
  • 26000 CE is having highest OI @9.6 Lakh resistance at 26000 followed 26500.24500-26500 CE added 6 lakh in OI so bears added major position at higher level.

 

  • 25000 PE is having highest OI @13.3 Lakh, strong support at 25500 followed by 25000.24500-26500 PE added 5.9 lakh in OI so bulls added position at lower level making base in range of 25500-25550

 

Buy above 25790 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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