Bank Nifty ready for big move,EOD Analysis

By | May 22, 2018
  • As Discussed in Last Analysis  Bank Nifty does 25776 below 25920. Now we are entering important support zone in range of 25630-25650 so we can see a bounce back if this range is held. Bulls need a close above 25776 for a move towards 25920/26064. Bearish below 25630 only now for a move back to 25500/25350. Bank Nifty did the first target of 25920 above 25776 as close exactly our level of 25776. As per time analysis we should get good move in next 2 trading session as price and time squaring will happen. Bullish above 25776 for a move towards 25920/26064/26208. Bearish below 25630 for a move back to 25500/25350. Bank Important intraday time for reversal can be at 12:20/2:48. Trading Is Harder Than You Think: Complexity Of Trading

  • Bank Nifty May Future Open Interest Volume is at 29  lakh with liquidation of 0.72 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @24969  closed above it and rallied 1000 points.
  • 26000 CE is having highest OI @5Lakh resistance at 26000 followed 26200.25000-27000 CE added 1.75 lakh in OI so bears added position at higher level making resistance in range of 26000-26200.

 

  • 25500 PE is having highest OI @7.9 Lakh, strong support at 25500  followed by 25300.25000-27000 PE  added 1.2  lakh in OI so bulls having strong support in range of 25500-25600.

 

Buy above 25810 Tgt 25920,26000 and 26064 (Bank Nifty Spot Levels)

Sell below 25750 Tgt 25680,25600 and 25500 (Bank Nifty Spot Levels)

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