Bank Nifty Bulls able to close above 25390,EOD Analysis

By | December 11, 2017
  • As discussed in Last Analysis   Now Bulls need a close above 25390 for the next leg of upmove towards 25520/25670/25920. Bearish below 25100 for a move towards 24950/24800. 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.    The ‘formula’ for trading Success :Consistency

  • Bank Nifty Dec Future Open Interest Volume is at 19.5 lakh with addition of 0.30 Lakh, with decrease in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @25844, closed below it.
  • 26000 CE is having highest OI @10.8 Lakh resistance at 26000 followed 26500.24500-26500 CE added 0.06 lakh in OI so bears added position at higher level making strong resistance in range of 25500-26000.

 

  • 25000 PE is having highest OI @13.1 Lakh, strong support at 25000 followed by 24800.24500-26500 PE added  0.03 lakh in OI so bulls added position at lower level and closed above 25000 again.

 

Buy above 25420 Tgt 25480,25530 and 25590 (Bank Nifty Spot Levels)

Sell below 25370 Tgt 25320,25250 and 25160 (Bank Nifty Spot Levels)

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