Bank Nifty Technical Structure after Surgical Strike on Black Money

  •  As discussed in Last analysis   Bank Nifty closed above 19252 suggesting move till 19666 on cards till 19252 is held. Break of 19252 will lead fast move towards 19000 and below it 18750, Bank Nifty continue to hold 19252 as low made today was 19322. As Today our PM did Surgical Strike on Black Money  Government’s surgical strike against black money Tomorrow if we open gap down and break 19252 we can see quick move towards 19000 below that 18750.


  • Bank Nifty Nov Future Open Interest Volume is at 16.8 lakh with liquidation of 1 lakh, with increase in Cost of Carry suggesting short positions were added today. Bank nifty closed below Rollover cost 19750. Do you know your Risk of Ruin in trading ?
  • 19500 CE is having highest OI @6.6 Lakh resistance at 19500. 19000-21000 CE saw addition of 3.7 lakh in OI so bears added aggressively in 20000 CE.
  • 19000 PE is having highest OI @9.6 Lakh, strong support at 19000 followed by 18500, Bulls added 3.1 Lakh in OI in 18500-20500 PE .

Buy above 19380 Tgt 19470,19590 and 19686 (Bank Nifty Spot Levels)

Sell below 19200 Tgt 19100,18950 and 18750 (Bank Nifty Spot Levels)

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