Bank Nifty Bulls make another failed attempt to close above 27000

By | December 4, 2018
  • As Discussed in Last Analysis   Bulls will get active above 26920 for a move towards 27000/27125/27250/27333. Bears will get active below 26750 for a move back to 26656/26500. 02 Dec is important time cycle date so effect will be seen on 03 Dec. Bank Nifty opened with gap up and made another failed attempt to close above 27000. 27000 is very imp number and we need a close above it for bull trend to continue. Its having same important as 24389 which bank nifty was not able to close below and rallied 2000 points from that levels. Bulls will get active above 26920 for a move towards 27000/27125/27250/27333. Bears will get active below 26750 for a move back to 26656/26500.Important intraday time for reversal can be at 10:29/12:54. Stock Market and State Elections Part -II

 

 

  • Bank Nifty Dec Future Open Interest Volume is at 16.9 lakh with liquidation of 0.35  Lakh, with increase in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @26532 rollover %@71.1
  • 27500 CE is having highest OI @2.3 Lakh resistance at 27300  followed 27500.  26000-28000 CE added 0.36 Lakh in OI so bears making resistance in the zone of 27300-27500.
  • 26000 PE is having highest OI @6.2 Lakh, strong support at 26500 followed by 26000.26000-28000 PE added 0.72 Lakh OI so bulls making strong support in the range of 26000-26300.

 

 

Buy above 26920 Tgt 27000,27125 and 27225 (Bank Nifty Spot Levels)

Sell below 26820 Tgt 26750,26656 and 26500 (Bank Nifty Spot Levels)

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