Bank Nifty forms Long Legged DOJI,EOD Analysis

  • Bank Nifty broke  yesterday  low of 15532 made low of 15453 which was near 15500 as we have been discussing 15550 is strong support based on option analysis. Also Bank nifty has formed an ABCD pattern which did not got invalidated as bank nifty close near that level again forming a DOJI pattern, close above 15900 can see move towards 16121/16301. Bullish only on close above 16229. How making a trading plan improves your trading


  • Bank Nifty December Future Open Interest Volume is at 27.3 lakh with addition of 0.74  Lakh with decrease in Cost of Carry suggesting short positions were added today .Bank Nifty rollover cost coming @ 16957 and corrected heavily one started trading below Rollover Price.Can Traders make money in Stock market?
  • 17000 CE is having highest OI @6.9 Lakh strong resistance formation @17000. 16500 CE saw no major addition by bears .16000-17000 CE added 1.36 Lakh in OI, aggressive addition shown by bears,in 16000 CE  bears hoping level will not be broken.
  • 15500 PE is having highest OI @6.7 lakh, strong support at 15500 and before that 16000 .16500-15500 PE liquidated 0.18 Lakh so bulls are still not adding eventhough bank nifty saw swift recovery from lower levels.

Buy above 15711 Tgt 15790,15950 and 16040 (Bank Nifty Spot Levels)

Sell below 15600 Tgt 15450,15280 and 15150 (Bank Nifty Spot Levels)

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