Bank Nifty Bears does 25100 below 25320 on Time Cycle turn date

By | December 12, 2017
  • As discussed in Last Analysis    Bank Nifty bulls were able to close above 25390 so bulls are heading towards 25520/25670/25920. Bearish below 25320 for a move towards 25100. Tomorrow is important time cycle date. Bulls were stopped out, Time Cycle date showed it effect as soon as 25320 was broken bears took the charge and did our target of 25100 low made was 25108. Now bears need a close below 25100 for a the next down move towards 24920/24800. Bullish above 25250 for a move back towards 25390/25520.   When Should a Trader avoid trading ?

  • Bank Nifty Dec Future Open Interest Volume is at 22 lakh with addition of 2.5 Lakh, with increase in Cost of Carry suggesting Long positions were added today. Bank nifty Rollover cost @25844, closed below it.
  • 26000 CE is having highest OI @11.3 Lakh resistance at 26000 followed 26500.24500-26500 CE added 1.4 lakh in OI so bears added position at higher level making strong resistance in range of 25500-26000.

 

  • 25000 PE is having highest OI @13.6 Lakh, strong support at 25000 followed by 24800.24500-26500 PE added  0.42 lakh in OI so bulls added position at lower level making base at 25000.

 

Buy above 25150 Tgt 25210,25300 and 25420 (Bank Nifty Spot Levels)

Sell below 25100 Tgt 25020,24930 and 25840 (Bank Nifty Spot Levels)

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