Bank Nifty EOD Analysis

  • As Discussed in Last Analysis Bulls need to go above 29920 for rally to continue towards 30078/30150. Bears will get active below 29720 for a move back to 29650/28540. High made was 30057 so bulls missed target by 20 points but bears were rewarded handsomely as did both target on downside in matter of mins,very few traders would have capture such move. Bulls now will get active above 29711 for a move back to 29908/30057. Bears will get active below 29510 for a move towards 29363/29225.  Build Good Trading Habits

  • Bank Nifty May Future Open Interest Volume is at 17.2 lakh with addition of 4 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @29964 and rollover %@73.4

Buy above 29600 Tgt 29683,29769 and  29855  (Bank Nifty Spot Levels)

Sell below 29500 Tgt 29410,29320 and 29200 (Bank Nifty Spot Levels)

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