Bank Nifty EOD Analysis for 29 Jul

By | July 27, 2019
  • As Discussed in Last Analysis Bulls now need a close above 29100 for a move back to 29300/29555. Bears will get active below 28871 for a move back to 28666/28525. 29300 done now waiting for 29525/29700. Bears will become active below 29100 for a move back to 28871/28666.

  • Bank Nifty July Future Open Interest Volume is at 13.8 lakh with liquidation of 0.01 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @29286  closed above it.
  • 29500 CE is having highest OI @1.3 Lakh resistance at 29500  followed 30000. 28000-30000 CE added 0.80 Lakh in OI so bears added position in the zone of 29500-30000.
  • 28500 PE is having highest OI @4.5 Lakh, strong support at 28500 followed by 29000.28500-29000 PE added 0.37 Lakh OI so bulls making strong support in the range of 28000-28500.

Buy above 29390 Tgt 29468,29554 and  29666 (Bank Nifty Spot Levels)

Sell below 29200 Tgt 28100 ,29871 and 28700 (Bank Nifty Spot Levels)

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