Bank Nifty rallies 450 points breaking Election Day High

By | December 12, 2018
  • As Discussed in Last Analysis We did a perfect move from 1 gann angle to another also Intraday Levels mentioned on Twitter  must have helped trader in riding the full move we did today. Bullish above 26225 for a move towards 26314/26500/26832.Bearish below 26100 for a move back to 26000/25920/25785. Bank Nifty did a perfect mvoe above 26225 as we discussed in Our Video  we almost rallied 450 points in single session. We discussed Intraday Level on Twitter and they worked nicely. Now Bulls need to close above 26640 for  a move back to 27684/26920/27000. Bearish below 26500 for a move back to 26250/26000. 13 Dec important time cycle date. Important intraday time for reversal can be at 9:20/12:04/2:38. Why Investing In Trading Education Is Important

  • Bank Nifty Dec Future Open Interest Volume is at 15.7 lakh with addition of 1.5 Lakh, with increase in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @26532 closed below it.
  • 27000 CE is having highest OI @5.6 Lakh resistance at 27000  followed 27300.  26000-28000 CE liquidated 1.2 Lakh in OI so bears covered position  in the zone of 26300-26500.
  • 26000 PE is having highest OI @7.2 Lakh, strong support at 26300 followed by 26000.26000-28000 PE added 4.7 Lakh OI so bulls making strong support in the range of 26000-26300.

Buy above 26676 Tgt 26777,26888 and 26968 (Bank Nifty Spot Levels)

Sell below 26500 Tgt 26500,26320 and 26185 (Bank Nifty Spot Levels)

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