Bank Nifty close below 19000, EOD Analysis

  • As discussed in last analysis  Holding the low of 19000 and close above 19140 on hourly basis bank nifty can stage rally towards 19360/19500/19650. Bearish only on close below 19000 for a move towards 18750/18500. Bank Nifty finally closed below 19000 but still trading near the gann angles as shown in below chart, Next Week will be very interesting as we can see move of 400-600 points in 1-2 days as price do not stay near gann angles for long. Bulls will become active above 19000 for a move till 19220/19450. Bears are already active below 19000 and can push nifty towards 18750/18600 till trading below 19000.   The Success Story Of Arnold Schwarzenegger


  • Bank Nifty Nov Future Open Interest Volume is at 25.4 lakh with addition of 1.30 lakh, with decrease in Cost of Carry suggesting short positions were added today. Bank nifty continued to trade below rollover price @19750 and corrected 400 points.
  • 20000 CE is having highest OI @9.3 Lakh resistance at 20000. 18500-20500 CE saw addition of 5.9 lakh in OI so bears added aggressively in range of 19100/19300 CE.
  • 19000 PE is having highest OI @8.1 Lakh, strong support at 19000 followed by 18500, Bulls liquidated 0.3 Lakh in OI in 18500-20500 PE no major liquidation seen by bears.

Buy above 19050 Tgt 19150,19220 and 19350 (Bank Nifty Spot Levels)

Sell below 18800 Tgt 18720,18650 and 18520 (Bank Nifty Spot Levels)

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