Bank Nifty EOD Analysis for 28 Nov

  • As Discussed in Last Analysis  Bulls were rewarded above 26100 and on time cycle date of 26 Nov and did 1 target on upside and now waiting for higher target 26496/26640 as we also did price time squaring, Till we are holding 26100 bulls will have upper hand for the week. Bearish below 26000 for a move back to 25920/24784/24656. High made today was 26491 so we did another target of 26496 above 26100 now waiting for target of 26640/26784/26850.Bearish below 26250 for a move back to 26100/25920 Important intraday time for reversal can be at 12:04/1:53. Stress Relieving Exercise for Traders

 

 

  • Bank Nifty Nov Future Open Interest Volume is at 13 lakh with liquidation of 0.48  Lakh, with decrease in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @25131 rollover closed above it rallied 800 points .
  • 26500 CE is having highest OI @8.3 Lakh resistance at 26500  followed 26800.  24000-27000 CE added 3.8 Lakh in OI so bears added in range 26500-26800 CE making strong resistance in this zone.
  • 26000 PE is having highest OI @10.4 Lakh, strong support at 26000 followed by 25800.24000-26000 PE added huge 8Lakh OI so bulls ready for big move.

 

 

Buy above 26500 Tgt 26570,26666 and 26733 (Bank Nifty Spot Levels)

Sell below 26380 Tgt 26320,26225 and 26100 (Bank Nifty Spot Levels)

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