Bank Nifty Analysis for RBI Policy

By | December 5, 2017
  • As discussed in Last Analysis   Now Fresh shorts should be taken below 25000 for a move towards 24780-800 where strong support lies. Bullish above 25150 for a move towards 25300/ 25450. Today was an important day as per time cycle so if 25000 is broken we can see good fall of 200-300 points. Bank Nifty bounced from the gann angle but it did whipsaw traders on both long and short side, with RBI event overhang on the market these whipsaw are expected. RBI Decision will be announced tommrow around 2 PM, better to trade after 2:30 PM once volatility gets settled into. Fresh shorts should be taken below 24920 for a move towards 24780-800 where strong support lies. Bullish above 25150 for a move towards 25300/ 25450. The ‘formula’ for trading Success :Consistency

  • Bank Nifty Dec Future Open Interest Volume is at 18.5 lakh with addition of 0.59  Lakh, with decrease in Cost of Carry suggesting Long positions were added today. Bank nifty Rollover cost @25844, closed below it.
  • 26000 CE is having highest OI @8 Lakh resistance at 26000 followed 26500.24500-26500 CE added 1.4 lakh in OI so bears added position at higher level as we approach the RBI Policy.

 

  • 25000 PE is having highest OI @12.1 Lakh, strong support at 25000 followed by 24800.24500-26500 PE added  5.5 lakh in OI so bulls added position at lower level making base in range of 25500-25100 even after a big fall.

 

Buy above 25130 Tgt 25230,25320 and 25410 (Bank Nifty Spot Levels)

Sell below 25020 Tgt 24950,24840 and 24730 (Bank Nifty Spot Levels)

Leave a Reply