- As discussed in Last Analysis Break of 18500 will see another up move towards 18700. On Downside break of 18400 will see downmove towards 18280/18200. High made today was 18480 so bulls were not able to break 18500 and bears of 18400 bears attacked and pushed nifty towards 18322 near our target of 18280. Its been 18 days bank nifty has traded in this range of 500 points, as time cycle is changing tomorrow expect this range to break soon. Break of 18700 can see move towards 19000/19300 and break of 18200 move towards 18000/17700. How To get rid of Bad Trading Habits
- Bank Nifty Dec Future Open Interest Volume is at 21.1 lakh with addition of 0.33 lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty rollover @60.4 and Rollover cost @18580 closed below it.
- 19000 CE is having highest OI @6.8 Lakh resistance at 19000. 18000-20000 CE saw addition of 1.54 lakh in OI so bears added in 18700-19000 CE suggesting 18700 is still bone of contention of bulls.
- 18000 PE is having highest OI @ 8 Lakh, strong support at 18000 followed by 17500, Bulls added 2.8 Lakh in OI in range of 17500-20000 PE.
Buy above 18500 Tgt 18550,18620 and 18740 (Bank Nifty Spot Levels)
Sell below 18280 Tgt 18220,18110 and 18000(Bank Nifty Spot Levels)
Click Here to Like Facebook Page get Real time updates
Click Here to Join me on Twitter