- As discussed in Last Analysis Bulls are protecting 18967 and also for 2 day closing above 19100 suggesting they are having upper hand but need to move fast from this zone towards 19400/19600 else as soon as prices starts trading below 18967 bears will show an impulsive decline towards 18740/18500. High made today was 19072 so bank nifty traded below 19100 and as soon as 18967 bank nifty corrected till 18793 almost near our target of 18740. Now bears need a close below 18740 for a move towards 18500 where there is good support. Bullish only on close above 18966. Bank Nifty did 18740 today but sill did not closed above 18967, bulls need close above 18967 for a move towards 19100/19500. Bears below 18740 for a move towards 18500. A Person who won’t stand for something will fall for anything..
- Bank Nifty Jan Future Open Interest Volume is at 17.7 lakh with liquidation of 5.5 lakh, with increase in Cost of Carry suggesting short positions were added today. Bank nifty rollover @66.9 and Rollover cost @17905 closed above it.
- 19000 CE is having highest OI @12.3 Lakh resistance at 19000. 18000-20000 CE saw addition of 3.8 lakh in OI so bears added in 19500/20000 CE massive addition by bears suggesting 19000 can become resistance for the series.
- 18500 PE is having highest OI @ 12.9 Lakh, strong support at 18500 followed by 18000, Bulls added 8 Lakh in OI in range of 18000-20000 PE massive addition by bulls suggesting 18500 can become support for the series.
Buy above 18860 Tgt 18930,19011 and 19114 (Bank Nifty Spot Levels)
Sell below 18800 Tgt 18740,18640 and 18550 (Bank Nifty Spot Levels)
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