Bank Nifty close above 18250, EOD Analysis

  • As discussed in Last Analysis   Now for tomorrow close above 18165 next move will be above 18275/18400, Bearish below 18000 for a move towards 17830/17600. Bank Nifty continue its rally above 18165 as low made was 18157 and did the target of 18275. Now as we closed above 18250 as seen in below gunner chart bank nifty can see move towards 18520. Any close below 18250 will see another fall towards 18000.  Paul Tudor Jones explaining Why FAILURE is important

  • Bank Nifty Jan Future Open Interest Volume is at 19.1 lakh with liquidation of 1.6 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.
  • 18500 CE is having highest OI @6.4 Lakh resistance at 18500. 17500-19500 CE saw addition of 2 lakh in OI so bears added in 19000 CE suggesting 18500 could be broken if bank nifty sustain above 18250.
  • 18000 PE is having highest OI @ 7 Lakh, strong support at 18000 followed by 17500, Bulls added 0.98 Lakh in OI in range of 17500-19500 PE.

Buy above 18280 Tgt 18350,18410 and 18500 (Bank Nifty Spot Levels)

Sell below 18220 Tgt 18150,18080 and 18000 (Bank Nifty Spot Levels)

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