Bank Nifty EOD Analysis before RBI Policy

By | December 4, 2018
  • As Discussed in Last Analysis  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. Bears were able to achieve the 1 target on downside@26656 and now heading towards 26500/26314 where strong support lies. Bulls will get active above 26784 for a move back to 26928/27000. As we have RBI Policy tomorrow expect volatility  Important intraday time for reversal can be at 9:40/10:46/2:32. Stock Market and State Elections Part -II

 

 

  • Bank Nifty Dec Future Open Interest Volume is at 15.9 lakh with liquidation of 1.5  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 @2.5 Lakh resistance at 27000  followed 27300.  26000-28000 CE added 0.45 Lakh in OI so bears making resistance in the zone of 27300-27500.
  • 26000 PE is having highest OI @7.2 Lakh, strong support at 26500 followed by 26000.26000-28000 PE added 1.17 Lakh OI so bulls making strong support in the range of 26000-26300.

 

 

Buy above 26740 Tgt 26800,26888 and 27000 (Bank Nifty Spot Levels)

Sell below 26610 Tgt 26530,26410 and 26300 (Bank Nifty Spot Levels)

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