Will Bank Nifty bulls be able to hold 25150 on Weekly Expiry ?

  • As discussed in Last Analysis Bearish below 25150 for a for a move towards 25000/24800. Low made today was 25223  and bank nifty bulls held the range of 25250-70 and also closed near the gann angle, also we have time cycle turn date tommrow so we can see high intensity move in bank nifty in next 2 days. Bullish above 25350 for a move towards 25500/25700. Bearish below 25150 for a for a move towards 25000/24800.  Low made was 25166 and High made was 25318 so bank nifty remained in neutral zone in our range, Also Nifty saw the big move but bank nifty failed to give big move but lets hope we can see tommrow. Plan remains the same  Bullish above 25350 for a move towards 25500/25700. Bearish below 25150 for a for a move towards 25000/24800.    Who are you Trader and Gambler ?

  • Bank Nifty Nov Future Open Interest Volume is at 22.8 lakh with liquidation of 0.34 Lakh, with increase in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @24786,closed above it.
  • 25500 CE is having highest OI @6.1 Lakh resistance at 25500 followed 26000.24500-26500 CE added 0.64 lakh in OI so bears added position at higher side.

 

  • 25000 PE is having highest OI @16.9 Lakh, strong support at 25000 followed by 24800.24500-26500 PE added 0.80 lakh in OI so bulls used fall to add more position as bank nifty continue to hold 25150.

 

Buy above 25325 Tgt 25400,25486 and 25550 (Bank Nifty Spot Levels)

Sell below 25200 Tgt 25150,25080 and 25000 (Bank Nifty Spot Levels)

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