Bank Nifty does 25720 ,EOD Analysis

By | December 19, 2017
  • As discussed in Last Analysis    We had a roller coaster ride today with a gap down opening price bouncing swiftly from the strong support zone of 24780-24800 as we have discussed , Price rallied from one angle to another angle. Price also closed above 25569, So bulls can continue rally towards 25720/25888. Bearish below 25500 for a move towards 25350/25200. Bulls did the target of 25720,now till 25600 is held we can move towards 25888/25970. Bulls need a close above 25920 which is important  vedic number. Bearish below 25500 for a move towards 25350/25200. I will not be updating technical analysis till 27 Dec.     Just Do It

  • Bank Nifty Dec Future Open Interest Volume is at 14.7 lakh with addition of 0.02 Lakh, with decrease in Cost of Carry suggesting Long positions were closed today. Bank nifty Rollover cost @25844, closed below it.
  • 26000 CE is having highest OI @13.7 Lakh resistance at 26000 followed 26300.24500-26500 CE liquidated 1.9 lakh in OI so bears covered position but still  strong resistance at higher level  in range of 25800-26000.

 

  • 25000 PE is having highest OI @11 Lakh, strong support at 25200 followed by 25000.24500-26500 PE added  0.2 lakh in OI so still strong support at 25000-25200.

 

Buy above 25730 Tgt 25780,25850 and 25920 (Bank Nifty Spot Levels)

Sell below 25680 Tgt 25620,25550 and 25400 (Bank Nifty Spot Levels)

2 thoughts on “Bank Nifty does 25720 ,EOD Analysis

Leave a Reply