- As discussed in Last Analysis Bank Nifty is forming small range of 18250-18500 so break of any 2 levels will see move of 250 points. High made today was 18316 Low made was 18215 and close at 18257 so still the small range is not broken. Its been 20 trading session bank nifty is trading in the range of 18200-18700 frustrating trend traders and paradise for scalpers and option writer. Still the gann support zone is held suggesting Holding 18200 we can see another up move towards 18500/18700.Below 18200 move towards 18050/17910. Secret of Trading Success :Consistency
- Bank Nifty Dec Future Open Interest Volume is at 22.2 lakh with addition of 0.99 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 @6.9 Lakh resistance at 19000. 18000-20000 CE saw addition of 0.78 lakh in OI so bears added in 18500-18700 CE suggesting 18500 is still bone of contention of bulls.
- 18000 PE is having highest OI @ 10 Lakh, strong support at 18000 followed by 17500, Bulls added 1.8 Lakh in OI in range of 17600-20000 PE.
Buy above 18270 Tgt 18310,18370 and 18450 (Bank Nifty Spot Levels)
Sell below 18200 Tgt 18150,18100 and 18000(Bank Nifty Spot Levels)
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