Bank Nifty heading in supply zone of 18768-18850,EOD Analysis

  • As discussing in past analysis Bank Nifty opened gap up above 18100 at 18250 suggesting bulls were in command, Now Bulls should above 18300 on closing basis for next move towards 18768/19000. Bank Nifty made high of 18684. Now the range of 18758-18898 is very crucial range where bulls should book profit. Weekly close above 18768 can see fast move towards 19230. Bearish below only close below 18300.  What It Takes to Trade for a Living

bank nifty breakout

  • Bank Nifty July Future Open Interest Volume is at 22.2 lakh with addition of 1.4  lakh, with decrease in Cost of Carry suggesting Long positions were closed today. Bank nifty Rollover is 75 % Rollover cost is coming at 17722  Do you know your Risk of Ruin in trading ?
  • 18500 CE is having highest OI @3.1 Lakh resistance formation @18500. 17000-19000 CE saw 0.36 lakh addition in OI so bears are adding in range of 18800-19000 range.
  • 18000 PE is having highest OI @4.8 Lakh, strong support at 18000 followed by 17500, Bulls added  3.3 Lakh in OI in 17000-19000 PE aggressive addition in 18000 PE.

Buy above 18700 Tgt 18746,18820 and 18950 (Bank Nifty Spot Levels)

Sell below 18600 Tgt 18530,18400 and 18300 (Bank Nifty Spot Levels)

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4 thoughts on “Bank Nifty heading in supply zone of 18768-18850,EOD Analysis”

  1. Bramesh, ideally what should be done when Banknifty Spot gives a Sell signal and Banknifty futures (is above trend deciding level for intraday) say around 30 points up

    1. Wait and watch for taking short positions OR
    2. Try with a little qty ?

    Please explain

  2. Always am watching your post sir by late night your posting analysis for us.Thanks FOR your hardwork.

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