Bank Nifty range trading continues,EOD Analysis

  • As discussed in Last Analysis  Bank Nifty again bounced from gann angles support zone as we have been discussing from past many sessions even after RBI policy Bank Nifty was unable to close below 18200, still we are in range of 18200-18700 till the range is not broken buy support around 18200 sell resistance  near 18680-18700 as and when it comes. High made today was 18739 and closed at 18695 so still bank nifty is not able to break the range of 18200-18700 ,Bank nifty opened gap down again the range of 18700-18200 not broken, unable to close above 18700 again a move back towards 18200 . The little woman who inspired the cable TV Moghul to give away fortune

  • Bank Nifty Dec Future Open Interest Volume is at 21.4 lakh with addition of 0.13 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 @5.4 Lakh resistance at 19000. 18000-20000 CE saw addition of 1.2 lakh in OI so bears added in 18800-19000 CE suggesting 18700 is still bone of contention of bulls.
  • 18000 PE is having highest OI @ 7.8 Lakh, strong support at 18000 followed by 17500, Bulls liquidated 1.1 Lakh in OI in range of 17500-20000 PE.

Buy above 18460 Tgt 18550,18700 and 18900 (Bank Nifty Spot Levels)

Sell below 18350 Tgt 18300,18210 and 18050(Bank Nifty Spot Levels)

Click Here to Like Facebook Page get Real time updates

Click Here to Join me on Twitter

Leave a Reply