Bank Nifty EOD Analysis for 21 Aug

By | August 20, 2019
  • As Discussed in Last Analysis  Bank Nifty Bulls will get active above 28270 for a move back to 28450/28666/28900. Bears will get active below 28140 for a move back to 28100/27920/27800. Low made was 27839 so we almost did all our target on downside.Bank Nifty Bulls will get active above 28100 for a move back to 28225/28450/28666/28900. Bears will get active below 28040 for a move back to 27880/27797/27600.

  • Bank Nifty Aug Future Open Interest Volume is at 14.3 lakh with liquidation of 0.59 Lakh, with increase in Cost of Carry suggesting short positions were closed today. Bank nifty Rollover cost @29286  closed below it.
  • 29000 CE is having highest OI @5 Lakh resistance at 28500  followed 29000. 27000-30000 CE added 2 Lakh in OI so bears added position in the zone of 28000-28500.
  • 27500 PE is having highest OI @3.9  Lakh, strong support at 28000 followed by 27500.27000-29000 PE added 0.34 Lakh OI so bulls making strong support in the range of 27300-27500.

Buy above 28020 Tgt 28125,28215 and  28388  (Bank Nifty Spot Levels)

Sell below 27920 Tgt 27810,27700 and 27600  (Bank Nifty Spot Levels)

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