Bank Nifty Bulls fails to close above 27000,EOD Analysis

By | December 1, 2018
  • As Discussed in Last Analysis  Now Bulls need a close above 27000 for the rally to continue till 27216/27360/27500. Bears will get active below 26780 for a move back to  26640/26496/26352. Bank Nifty bears got stopped out below 26780 and bulls also not able to close above 27000  and also unable to break gann angle  as shown below. 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. Important intraday time for reversal can be at 12:35/2:05. Not able to pull the trigger in Trading

 

 

  • Bank Nifty Dec Future Open Interest Volume is at 17.3 lakh with liquidation of 1.8  Lakh, with decrease in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @26532 rollover %@71.1
  • 27500 CE is having highest OI @2.36 Lakh resistance at 27300  followed 27500.  26000-28000 CE added 1.58 Lakh in OI so bears making resistance in the zone of 27300-27500.
  • 26000 PE is having highest OI @5.7 Lakh, strong support at 26500 followed by 26000.24000-26000 PE added 4.1 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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