Bank Nifty consolidate gains,EOD Analysis

  • As discussed in Last Analysis The current rally can continue till 19101 holding 18500. Now bearish only on close below 18500. High made 18966 and low made 18800, so bank nifty traded in small range after big rally yesterday, formed a DOJI candlestick, Bulls should now protect 18700-18739 range for further up move towards 19100. Bearish only on close below 19500.    Psychological Pitfalls in Trading

  • Bank Nifty Jan Future Open Interest Volume is at 22.5 lakh with addition of 0.63 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 @11.4 Lakh resistance at 19000. 17500-19500 CE saw addition of 2.8 lakh in OI so bears added in 19000/19200 CE. Also as per our analysis yesterday 18500 could be broken as 18250 has been broken from past 2 days.
  • 18000 PE is having highest OI @ 8 Lakh, strong support at 18000 followed by 17500, Bulls added 1.8 Lakh in OI in range of 17500-19500 PE.

Buy above 18900 Tgt 18950,19040 and 19101 (Bank Nifty Spot Levels)

Sell below 18790 Tgt 18720,18650 and 18580 (Bank Nifty Spot Levels)

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1 thought on “Bank Nifty consolidate gains,EOD Analysis”

  1. Bearish only on close below 19500. Psychological Pitfalls in Tradingm
    Typo error, First Para, 2nd last line.

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