Bank Nifty Analysis for 01 Jan

By | December 31, 2017
  • As Discussed in Last Analysis 31 is important time cycle date for this year effect should be seen either tommrow or 02 Jan. Bulls need a close above 25510 for a move towards 25770/25920. Bearish below 25400 for a move towards 25250/25101/25450. Bulls did a close above 25510 Holding 25400 gunner support as shown in below chart,now heading towards 25770/25920. Bearish below 25400 for a move towards 25250/25101/25450. As per Yearly outlook 01-03 Jan are important date good move can be seen on those days.  Nifty Technical Outlook and Time Cycle Dates for 2018

  • Bank Nifty Jan Future Open Interest Volume is at 12.6 lakh with addition of 4.7 Lakh, with decrease in Cost of Carry suggesting Long positions were closed today. Bank nifty Rollover cost @25671, closed below it Rollover % at 73 highest in last 3 months.
  • 26000 CE is having highest OI @11.4 Lakh resistance at 26000 followed 25800.24500-26500 CE added 2.1 lakh in OI so bears making resistance at 26000 at the start of the series.

 

  • 25000 PE is having highest OI @6.4 Lakh, strong support at 25200 followed by 25000.24500-26500 PE added 0.86 lakh in OI so still strong support at 25200.

 

Buy above 25590 Tgt 25650,25720 and 25800 (Bank Nifty Spot Levels)

Sell below 25500 Tgt 25440,25370 and 25260 (Bank Nifty Spot Levels)

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