Bank Nifty does life high holding time cycle low,EOD Analysis

By | January 15, 2018
  • As Discussed in Last Analysis   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. 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.   Why Swing Trading Is Favorable For Beginner Traders?

 

 

  • Bank Nifty Jan Future Open Interest Volume is at 24.1 lakh with addition of 3.7 Lakh, with decrease in Cost of Carry suggesting short positions were closed today. Bank nifty Rollover cost @25671, and closed above it and zoomed 500 points in 2 days.
  • 26000 CE is having highest OI @11.3 Lakh resistance at 26200 followed 26500.25000-25700 CE added 1.48 lakh in OI so bears added major position in 25800-26000.

 

  • 25000 PE is having highest OI @8.7 Lakh, strong support at 25700 followed by 25500.25500-27000 PE  added 6.84 lakh in OI strong support at 25500-25700.

 

Buy above 26100 Tgt 26160,26250 and 26400 (Bank Nifty Spot Levels)

Sell below 25999 Tgt 25920,25840 and 25752 (Bank Nifty Spot Levels)

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