Bank Nifty Close below Time Cycle Low of 28850

By | May 13, 2019

  • Bank Nifty May Future Open Interest Volume is at 15.5 lakh with liquidation of 0.27 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @29964 closed below it.
  • 29500 CE is having highest OI @2.3 Lakh resistance at 29200 followed 29500.  28000-31000 CE added 1.8 Lakh in OI so bears added in the zone of 29300-29500
  • 28500 PE is having highest OI @5.3 Lakh, strong support at 28500 followed by 28300.29000-31000 PE liquidated 2 Lakh OI so bulls making strong support in the range of 28300-28500.

Buy above 28710 Tgt 28793,28878 and  28963  (Bank Nifty Spot Levels)

Sell below 28620 Tgt 28539,28455 and 28371 (Bank Nifty Spot Levels)

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