Bank Nifty does 25600 Holding time cycle Low,EOD Analysis

By | January 5, 2018
  • As Discussed in Last Analysis   Bank Nifty bulls finally got rewarded holding 25250 and once 25400 broken we got the move till 25490 near our target of 25510. Till 25300 low of 03 Jan time cycle we can head towards 25600/25760/25920. Bearish below 25250 for a move towards 25120/24951. High made was 25643 so our first target of 25600 done, and also closed above 25500. Time cycle gives an additional edge in choppy market as we know till 25300 low is not broken we will move on upside, the move was slow but rewarding. So Bulls holding 25500 can move towards 25760/25920. Bearish below 25300 for a move towards 25120/24951.   The Radical Power of Humility

  • Bank Nifty Jan Future Open Interest Volume is at 16.5  lakh with addition of 1.23 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @25671, High made was 25668 still closing below it.
  • 26000 CE is having highest OI @11 Lakh resistance at 26000 followed 25800.24500-26500 CE liquidated 0.15 lakh in OI so bears covered position in 25800-26000.

 

  • 25000 PE is having highest OI @8.1 Lakh, strong support at 25200 followed by 25000.24500-26500 PE added 1.3 lakh in OI but still strong support at 25200-25000.

 

Buy above 25650 Tgt 25720,25800 and 25871 (Bank Nifty Spot Levels)

Sell below 25550 Tgt 25500,25440 and 25380 (Bank Nifty Spot Levels)

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