Bank Nifty does 26200 holding 26000,EOD Analysis

  • As Discussed in Last Analysis  Bank Nifty did 26064 so after doing price time squaring at 25630 bank nifty up by 500 points, Now bulls need to hold 26000 for the next move towards 26064/26208/26352/26569. Bearish below 25920 for a move back towards 25776/25632. High made today was 26206 so we did another target of our now till we are holding 26064 we can head towards 26352/26569. Bearish below 26000 for a move towards 25920/25776/25632. We are up 800 points from 25630 level in just 3 days effect of price time sqauring. Bank Important intraday time for reversal can be at  11:30/1:42. Using “The Greeks” To Understand Options

  • Bank Nifty May Future Open Interest Volume is at 33 lakh with addition of 1.11 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @24969  closed above it and rallied 1000 points.
  • 26500 CE is having highest OI @3.2 Lakh resistance at 26300 followed 26500.25000-27000 CE added 1.1 lakh in OI so bears added MAJOR position at higher level making resistance in range of 26300-26500.

 

  • 25000 PE is having highest OI @8.9 Lakh, strong support at 25800 followed by 25500.24000-26000 PE  added 1.34  lakh in OI so bulls having strong support in range of 25500-25800.

 

Buy above 26200 Tgt 26260,26320 and 26400 (Bank Nifty Spot Levels)

Sell below 26080 Tgt 25990,25900 and 25800 (Bank Nifty Spot Levels)

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