Bank Nifty does 25750 Holding time cycle low,EOD Analysis

By | January 12, 2018
  • As Discussed in Last Analysis  Low made today was 25533 so bulls again held the forte at 25500 and again closed above 25600, Now we are waiting for target of  25750/25871/25953. As today was TC date, price set up also indicating bank nifty is ready for a trending move, Break of today high and low can easily give 200-250 point move.Bearish below 25500 for a move towards 25250/25000. Low made today was 25557 so bulls continue to hold the time cycle low of 25532 and also in the process did 25750 our 1 target of this cycle and now heading towards 25871/25953. Time cycle again helped in taking a wrong trade even thought bank nifty was getting panicky. Plan remains the same till time cycle low is held we are heading towards the mentioned target. Bearish below 25500 for a move towards 25250/25000.   10 Hard-Working Indians Who Challenged Fate And Won 

 

 

  • Bank Nifty Jan Future Open Interest Volume is at 20.3 lakh with addition of 0.30 Lakh, with decrease in Cost of Carry suggesting short positions were closed today. Bank nifty Rollover cost @25671, and closed at border line
  • 26000 CE is having highest OI @14 Lakh resistance at 26000 followed 25800.24500-26500 CE liquidated 1.19 lakh in OI so bears covered major position in 25800-26000.

 

  • 25000 PE is having highest OI @8.2 Lakh, strong support at 25300 followed by 25000.24500-26500 PE  added 0.20 lakh in OI strong support at 25200-25400.

 

Buy above 25780 Tgt 25830,25920 and 26000 (Bank Nifty Spot Levels)

Sell below 25690 Tgt 25620,25570 and 25480 (Bank Nifty Spot Levels)

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One thought on “Bank Nifty does 25750 Holding time cycle low,EOD Analysis

  1. Neel Shah

    Sir, banknifty futures closed at 25,743. Is it near rollover cost?

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