Bank Nifty continue to trade in range,EOD Analysis

  • As discussed in Last Analysis    Price know everything well in advance,we have 24510 levels set up and bank nifty was not able to to cross it.Bearish below 24200 for a move towards 23963/23830.  Bullish above 24510 for a move towards 24750/25000.IN between 24200-24510 ping pong continues. High made was 24338 and low made was 24256 so again bank nifty traded in the range of 24200-24500 so the ping pong move continues. Bullish above 24510 for a move towards 24750/25000.IN between 24200-24510 ping pong continues.   Build up your confidence as a trader

  • Bank Nifty Sep Future Open Interest Volume is at 18.6 lakh with liquidation of 0.05 Lakh, with increase in Cost of Carry suggesting Short positions were added today. Bank nifty Rollover cost @24345 closed below it.

 

  • 25000 CE is having highest OI @7 Lakh resistance at 24500 followed 25000. 24000-26000 CE added 1 lakh so bears position  in 24500/25000 CE.

 

  • 24000 PE is having highest OI @7.2 Lakh, strong support at 24000 followed by 23800, Bulls added 0.47 Lakh position in OI in range of 24000-26000.

 

Buy above 24350 Tgt 24400,24460 and 24520(Bank Nifty Spot Levels)

Sell below 24250 Tgt 24180,24100 and 23950 (Bank Nifty Spot Levels)

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