Bank Nifty EOD Analysis for 16 April

By | April 14, 2018
  • As Discussed in Last Analysis  High made today was 25244 so bulls almost did the target of 25250, Now break of 25250 can see fast rally towards 25488/25632 where major resistance lies. Bearish below 24970 for a move towards 24800. Break of todays high and low of anniversary date can easily 250-300 points . Bank Nifty did 25411 but failed to do our target of 25488 and close below 25250 High of Anniversary datebut still holding on to gann angel, . break of 25250 can see fast rally towards25400/ 25488/25632 where major resistance lies. Bearish below 24970 for a move towards 24800. Important intraday time for reversal can be at 9:48/12:32/1:49.  Trading Resolution for Financial Year 2018-19

  • Bank Nifty April Future Open Interest Volume is at 17.4 lakh with liquidation of 0.84 Lakh, with increase 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 @3.6 Lakh resistance at 25400 followed 25500.24000-26000 CE added 1.12 lakh in OI so bears added  position at higher level.

 

  • 24500 PE is having highest OI @8.4 Lakh, strong support at 25000 followed by 24800.24000-26000 PE  added 2.41 lakh in OI so bulls made strong support in range of 24600-24800.

 

Buy above 25250 Tgt 25320,25410 and 25555 (Bank Nifty Spot Levels)

Sell below 25130 Tgt 25050,24970 and 24890 (Bank Nifty Spot Levels)

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