Bank Nifty Unable to breach the resistance zone of 18966-19067,EOD Analysis

  • As discussed in Last Analysis  Bulls should now protect 18700-18739 range for further up move towards 19100. Bearish only on close below 18500. Low made today 18781  and high made was 18952. Range was 18966-19067 is very important zone of resistance. Unable to cross the same correction can be seen till 18500. Fresh longs should be taken only on close above 19100 only. In between the trade of 19067-18500 Buy Low Sell higher with strict SL  Do not Strike when Angry

  • Bank Nifty Jan Future Open Interest Volume is at 24.5 lakh with addition of 2 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 @11.2 Lakh resistance at 19000. 17500-19500 CE saw addition of 0.59 lakh in OI so bears added in 19000/19200 CE.
  • 18000 PE is having highest OI @ 8 Lakh, strong support at 18000 followed by 17500, Bulls added 1.25 Lakh in OI in range of 17500-19500 PE.

Buy above 18920 Tgt 18980,19050 and 19153 (Bank Nifty Spot Levels)

Sell below 18860 Tgt 18810,18710 and 18640 (Bank Nifty Spot Levels)

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