Bank Nifty does 25120 above 25000,EOD Analysis

By | April 24, 2018
  • As Discussed in Last Analysis  Bank Nifty opened with gap up and immediately got sold off and once below 24840 did 24784 near our target with 24786, Also made the freak low of 24466. Now Bulls need close above 25000 for a move back towards 25120/25200/25560. Bearish below 24840 for 24768/24624/24500. Bulls did the target of 25120 above 25000, High made was 25123 and now bulls need to hold 25000 for the next towards 25200/25560. Bearsih below 25920 for move towards 24840/ 24768/24624/24500. Bank Important intraday time for reversal can be at 11:16/ 2:33 .  Trading Resolution for Financial Year 2018-19

  • Bank Nifty April Future Open Interest Volume is at 15.6 lakh with liquidation of 2.7 Lakh, with decrease in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @24358  closed above it and rallied 1000 points.
  • 25500 CE is having highest OI @9 Lakh resistance at 25500 followed 25700.24000-26000 CE added 0.82 lakh in OI so bears added  position at higher level.

 

  • 24500 PE is having highest OI @9 Lakh, strong support at 24600 followed by 24500.24000-26000 PE  liquidated 0.81  lakh in OI so bulls made strong support in range of 24800-24600.

 

Buy above 25050 Tgt 25125,25210 and 25320 (Bank Nifty Spot Levels)

Sell below 25000 Tgt 24920,24870 and 24780 (Bank Nifty Spot Levels)

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