Bank Nifty Feb Series Analysis

  •  As discussed in last analysis Bank Nifty Resistance at 15713 crossing the same can see fat move till 15882/16000.  Bearish only on break of 15400. Bank Nifty was unable to close the demand zone of 15713 and took support near the gann horizontal line, so trading in a zone before seeing a breakout/breakdown. We should big move tomorrow, Support below  15400 comes at 15237 and resistance at 15713. Bank Nifty had a movement of 2313 points in Jan Expiry High made was 17067 and Low 14754. Using Your Intuition in trading

Daily Gunner

  • Bank Nifty February Future Open Interest Volume is at 21 lakh with addition of 7.9  Lakh with decrease in Cost of Carry suggesting long positions were closed today .Bank Nifty rollover cost coming @ 15441  and Rollover % @71.3  How To Identify Market Tops and Bottom
  • 16000 CE is having highest OI @3 Lakh strong resistance formation @16000. 15500 CE saw 0.74 Lakh addition by bears so 15550 should be watched tomorrow .15000-16500 CE added 3.3 Lakh in OI. 14500-16500 looks the range for Feb series.
  • 15000 PE is having highest OI @2.8 lakh, strong support at 15000 and 14500 is next strong support looking at OI addition.15000-16500 PE saw 3.1 lakh addition so bulls added aggressively at start of series.

Buy above 15450 Tgt 15520,15580 and 15660 (Bank Nifty Spot Levels)

Sell below 15350 Tgt 15300,15220 and 15075 (Bank Nifty Spot Levels)

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