Bank Nifty Ready for Big Move,EOD Analysis

By | November 11, 2018
  • As Discussed in Last Analysis  High made was 25860 so we did our target of 25850 but failed to close above 25800 or below 25500. As we have holiday tomorrow so stick to same plan Bullish above 25800 for a move towards 25920/26059. Bearish below 25500 for a move back to 25250/25100. Bank Nifty has been consolidating near gann angle and 13 Nov being an important time cycle date suggest we can see a good move as traders will return after Diwali Holidays. Bullish above 25800 for a move towards 25920/26059. Bearish below 25600 for a move back to 25488/25344/25250.Important intraday time for reversal can be at 1:31/2:40. Time Cycle Stock Scanner for 11-16 Nov

 

 

  • Bank Nifty Nov Future Open Interest Volume is at 15 lakh with addition of 1.2 Lakh, with decrease in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @25131 rollover closed above it rallied 800 points .
  • 26000 CE is having highest OI @7.2 Lakh resistance at 26000  followed 26300.  24000-27000 CE added 0.59 Lakh in OI so bears added in range 26000-26500 CE.
  • 25000 PE is having highest OI @8.8 Lakh, strong support at 25000 followed by 24800.24000-26000 PE added 0.41  lakh OI so bulls continue to add in range of 25000-25300.

 

 

Buy above 25730 Tgt 25820,25920 and 26000 (Bank Nifty Spot Levels)

Sell below 25680 Tgt 25610,25520 and 25400(Bank Nifty Spot Levels)

Follow on Facebook https://www.facebook.com/Brameshs-Tech-14011718268586

Follow on Twitter:https://twitter.com/brahmesh

Leave a Reply