Bank Nifty reversed on time cycle date of 13 Nov,EOD Analysis

  • As Discussed in Last Analysis   High made was 25907 near our target of 25920 Low made was 25488 near our target of 25488, now 13 Nov imp date so below 25488 we can continue fall towards 25344/25250. Bullish above 25650 for a move back to 25800/25920.Bank Nifty bears got whipsawed but bulls made a 25796 near our target of 25800 we saw good reversal on time cycle date of 13 Nov. Now Bulls need a close above 25800 for rally to sustain all the way till 26000/26300. Bearish below 25666 for a move back to 25525/25400. Important intraday time for reversal can be at 9:58/1:09. Time Cycle Stock Scanner for 11-16 Nov

 

 

  • Bank Nifty Nov Future Open Interest Volume is at 13.3  lakh with addition of 0.40 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @25131 rollover closed above it rallied 800 points .
  • 26000 CE is having highest OI @7.2 Lakh resistance at 26000  followed 26300.  24000-27000 CE added 0.59 Lakh in OI so bears added in range 26000-26500 CE.
  • 25000 PE is having highest OI @8.8 Lakh, strong support at 25000 followed by 24800.24000-26000 PE added 0.41  lakh OI so bulls continue to add in range of 25000-25300.

 

 

Buy above 25820 Tgt 25910,26000 and 26064 (Bank Nifty Spot Levels)

Sell below 25720 Tgt 25666,25525 and 25400 (Bank Nifty Spot Levels)

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