Bank Nifty Bulls fails to hold 26000,EOD Analysis

By | January 16, 2018
  • As Discussed in Last Analysis  Bank Nifty finally did our target of 25950, holding time cycle low of 25550, Its was a fun ride of 500 points, patience was tested. Bulls need to hold 26010 for the next move towards 26280/26530.Bearish below 25900 for a move towards 25770/25555. Bulls failed to hold the price level of 26010 but also made sure bears do not break 29900 as low made was 29931. Bulls will again get momentum as we move above 26010 for the up move to continue towards 26200/26350/26500. Bearish below 25900 for a move towards 25770/25555. Price is near gann angle which has whipsawed before also  Why Swing Trading Is Favorable For Beginner Traders?

 

 

  • Bank Nifty Jan Future Open Interest Volume is at 22.1 lakh with liquidation of 1.98 Lakh, with increase in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @25671, and closed above it and zoomed 500 points in 2 days.
  • 26000 CE is having highest OI @8.9Lakh resistance at 26200 followed 26500.25000-25700 CE liquidated 1.6 lakh in OI so bears used to dip to cover there position in  in 25800-26000 CE.

 

  • 25000 PE is having highest OI @9 Lakh, strong support at 25700 followed by 25500.25500-27000 PE  added 2.5 lakh in OI strong support at 25500-25700.

 

Buy above 26020 Tgt 26090,26210 and 26300 (Bank Nifty Spot Levels)

Sell below 25930 Tgt 25890,25800 and 25752 (Bank Nifty Spot Levels)

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