Bank Nifty continue to rally holding 24500,EOD Analysis

By | March 15, 2018
  • As Discussed in Last Analysis  Now Bulls need a close above 24750 for the upmove to continue above 24920/25040. Bearish below 25500 for a move towards 25250/25000. I have been not keeping well from last few days so there will be delay in post till my health recovers completely.   Bulls close above 24750 and will continue the up move towards 24920/25040. Low made was 24487 nears 24500 so bulls continue to hold there forte. As yesterday was an important trend change date break of 24900 can see fast move of 200-300 points and break of 24500 a fall of 250-300 points. Important intraday time for reversal can be at 10:33/2:08. Why Do Traders Overtrade?

  • Bank Nifty March Future Open Interest Volume is at 18.3 lakh with addition of 1 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @25010, closed below it.
  • 25000 CE is having highest OI @6.7 Lakh resistance at 24800 followed 25000.24000-26000 CE liquidated 0.60 lakh in OI so bears covered position at higher levels.

 

  • 24000 PE is having highest OI @12.5 Lakh, strong support at 24000 followed by 24200.24000-27000 PE  added 0.68 lakh in OI so recent low of 24050 will remain strong base for some time.

 

Buy above 24920 Tgt 25000,25151 and 25300 (Bank Nifty Spot Levels)

Sell below 24730 Tgt 24620,24555 and 24370 (Bank Nifty Spot Levels)

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14 thoughts on “Bank Nifty continue to rally holding 24500,EOD Analysis

  1. Balaji

    God speed for your quick recovery Sir. Take Care. Markets are not running any where Sir. Thank you for your very lucid posts.

  2. Karthik

    Dear Bramesh, take care. Hope you recovers well. Thanks for your updates in spite of being sick. Much appreciations!

  3. JP

    Take care Bramesh.. May god give you more healthy mind and body

  4. Suresh Pandian

    Sir, Thanks for the update, take care of your health and get well soon.

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