Will Bank Nifty break 16000,EOD Analysis

  •  As discussed in last analysis   Closing above 15704 suggesting we can see move towards 16100-16130 zone.  Low made today was 15794 and bank nifty continue to move higher. Till 15700 is held move towards 16100-16130 is very much possible, bearish only on close below 15500. We have 2 trading holidays after tomorrow close.  Developing Self-Discipline in Trading

Daily Gunner

  • Bank Nifty April Future Open Interest Volume is at 16.4  lakh with liquidation of 0.91 lakh, with increase in Cost of Carry suggesting long positions were closed today.Rollover cost @16000,  How To Identify Market Tops and Bottom
  • 16500 CE is having highest OI @8 Lakh resistance formation @16500 . 15000-17000 CE added 2.5 lakh so bear added in 16400-16500 CE.
  • 15000 PE is having highest OI @5.7 Lakh, strong support at 15000 followed by 15500, Bulls added 2.9 Lakh in OI in 15000-17000 PE as bank nifty closed above the demand zone of 15700 so bulls added aggressively today.

Buy above 15900 Tgt 15960,16040 and 16120 (Bank Nifty Spot Levels)

Sell below 15850 Tgt 15800,15720 and 15650 (Bank Nifty Spot Levels)

Click Here to Like Facebook Page get Real time updates

1 thought on “Will Bank Nifty break 16000,EOD Analysis”

Leave a Reply