How Bank Nifty Will reach to Exit Poll Election Result

By | December 8, 2018
  • As Discussed in Last Analysis   Bank Nifty did all our target on downside and took support at gann angle as shown below, Now Bulls need to move above 26250 for a move back to 26323/26496. Bearish below 26100  for a move back to 26000/25920. Exit Polls result will be announced tomorrow evening so better not to carry position overnight as we are going to see lot of volatility in next 2 trading session. Bank Nifty did a perfect trade low made was 26252 near our entry level  and did all target on upside and again took resistance at gann angle as shown in below chart, As cautioned never take overnight position when we have Exit Poll news lined up, Bank Nifty likely to open gap down bulls need to protect 26314 if we get gap down. Bears will get active below 26300 for a move towards 26100/25795. Bullish levels i will update on twitter during market hours based on gap down. Important intraday time for reversal can be at 09:25/11:32/2:48. For Bank Nifty Analysis on Election Day Watch this Video https://www.youtube.com/watch?v=5VTjUA0CPnY

 

 

  • Bank Nifty Dec Future Open Interest Volume is at 16.7 lakh with addition of 1.72 Lakh, with increase in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @26532 closed below it.
  • 27000 CE is having highest OI @3.8 Lakh resistance at 27000  followed 27300.  26000-28000 CE added 0.87 Lakh in OI so bears making resistance in the zone of 27000-27500.
  • 26000 PE is having highest OI @8Lakh, strong support at 26000 followed by 25800.26000-28000 PE added 1.5 Lakh OI so bulls making strong support in the range of 26000-26100.

 

 

Buy above 26500 Tgt 26650,26751 and 26920 (Bank Nifty Spot Levels)

Sell below 26333 Tgt 26250,26100 and 26000 (Bank Nifty Spot Levels)

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One thought on “How Bank Nifty Will reach to Exit Poll Election Result

  1. Rajinder

    How to trade nifty chopad levels given in it weekly nifty analysis?

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