How to Trade Bank Nifty Karnataka Election Verdict

By | May 14, 2018
  • As Discussed in Last Analysis  Now bulls need to hold 26352 for upmove to continue towards 26784/26928.  Range of 26896-26920 is again an important supply zone. Bearish below 26350 for a move back 26200/26064.  Low made was 26338 so bulls protected 26350 till we are holding 26350 bulls can continue towards 26784/26928.Range of 26896-26920 is again an important supply zone. Bearish below 26350 for a move back 26200/26064.  Wild swings will be observed tommrow as results will keep pouring in, trade extremely cautiously. Bank Important intraday time for reversal can be at  11:24/2:11. Trading Is Harder Than You Think: Complexity Of Trading

  • Bank Nifty May Future Open Interest Volume is at 31.9  lakh with liquidation of 0.58 Lakh, with decrease in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @24969  closed above it and rallied 1000 points.
  • 26500 CE is having highest OI @12.1 Lakh resistance at 26500 followed 26800.25000-27000 CE liquidated 0.79 lakh in OI so bears covered position at higher level making resistance in range of 26500-26700.Once 25500 is crossed 25700 can come very fast.

 

  • 25000 PE is having highest OI @11.6 Lakh, strong support at 26200 followed by 25800.25000-27000 PE  added 3.5  lakh in OI so bulls having strong support in range of 26000-26200.

 

Buy above 26500 Tgt 26640,26784 and 26920 (Bank Nifty Spot Levels)

Sell below 26420 Tgt 26350,26250 and 26120 (Bank Nifty Spot Levels)

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