Bank Nifty fall 350 points below 27000

By | December 25, 2018
  • As Discussed in Last Analysis  Now Bears will need to break 26784 for a move towards 26656/26500. Bullish above 26920 for a move towards 27051/27216/27300. Once 26784 was broken as discussed on Twitter  we made a low of 26676 near our target of 26656 and we will also do 400-500 points correction once 27000 was broken. Now Bears need to break 26490 for a down move to continue towards 26360/26225/26060. Bullish above 26800 for a move towards 26930/27071. Important intraday time for reversal can be at 9:24/12:01/2:24.  How to Deal With Fear in Trading

  • Bank Nifty Dec Future Open Interest Volume is at 13.8 lakh with liquidation of 1.1 Lakh, with increase in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @26532 closed above it.
  • 27000 CE is having highest OI @10.6  Lakh resistance at 26800  followed 27000.  26000-28000 CE added 9.7 Lakh in OI so bears added major position  in the zone of 26800-27000.
  • 26500 PE is having highest OI @8.6 Lakh, strong support at 26500 followed by 26300.26000-28000 PE liquidated 0.31 Lakh OI so bulls making strong support in the range of 26500-26400.

Buy above 26800 Tgt 26875,26980 and 27070 (Bank Nifty Spot Levels)

Sell below 26600 Tgt 26520,26440 and 26350 (Bank Nifty Spot Levels)

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