Bank Nifty EOD Analysis as we approach Crucial Time Cycle Date

By | October 22, 2018
  • As Discussed in Last Analysis   Now Bears need to break 24920 for fresh down move to happen towards 24784/24656/24500. Bullish above 25200 for a move back to 25344/25488. Bank Nifty opened with gap up and got sold off again. As tomorrow is very crucial time cycle date Bears need to break 24920 for fresh down move to happen towards 24784/24656/24500. Bullish above 25200 for a move back to 25344/25488.Important intraday time for reversal can be at 10:16/12:19/1:46. DivA Software for Fundamental Analysis for All Companies of BSE and NSE

 

 

  • Bank Nifty Oct Future Open Interest Volume is at 12.8 lakh with liquidation of 1.5 Lakh, with decrease in Cost of Carry suggesting short positions were closed today. Bank nifty Rollover cost @25319 closed above it.
  • 25500 CE is having highest OI @9.8 Lakh resistance at 25500  followed 25800.  24000-27000 CE added 8.1  Lakh in OI so bears added in range 25500-26000 CE.
  • 24500 PE is having highest OI @6.5 Lakh, strong support at 24800 followed by 24500.24000-26000 PE added 4.4 lakh OI so bulls making support at 24800-25000 range.

 

 

Buy above 25125 Tgt 25225,25320 and 25450 (Bank Nifty Spot Levels)

Sell below 25000 Tgt 24920,24784 and 24600 (Bank Nifty Spot Levels)

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