Bank Nifty close above 19100,EOD Analysis

  • As discussed in Last Analysis   Bulls need a close 19100 for a move towards 19400 and Bears below 18950 can see move towards 18800/18750 Bank Nifty finally closed above 19100 suggesting bulls are in control and we can see move till 19420/19600. Bearish only on close below 18967.  Making Overnight Money via Trading

  • Bank Nifty Jan Future Open Interest Volume is at 26.8 lakh with addition of 0.61 lakh, with increase in Cost of Carry suggesting Long positions were added today. Bank nifty rollover @66.9 and Rollover cost @17905 closed above it.
  • 19000 CE is having highest OI @11.1 Lakh resistance at 19000. 17500-19500 CE saw addition of 1.2 lakh in OI so bears added in 19200/19500 CE.
  • 18500 PE is having highest OI @ 7.8 Lakh, strong support at 18500 followed by 18000, Bulls added 2.55 Lakh in OI in range of 17500-19500 PE.

Buy above 19200 Tgt 19270,19370 and 19470 (Bank Nifty Spot Levels)

Sell below 19140 Tgt 19065,18970 and 18800 (Bank Nifty Spot Levels)

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