Bank Nifty EOD Analysis for 25 Sep

  • As Discussed in Last Analysis Now Bulls need a close above 30700 for upmove to continue towards 31000/31360/31600. Bears will get active below 30370 for a move back to 30000/29800/29500. Till we are holding 29971 for we can need rally towards 31800-32000. Bears were able to do 30000 below 30370. Bulls need to protect 29791 vedic number for this uptrend to continue towards 31000/31800. Now Bulls need a close above 30300 for upmove to continue towards 30544/30672/30800. Bears will get active below 30050 for a move back to 29900/29791/29600.

  • Bank Nifty Sep Future Open Interest Volume is at 10.6  lakh with liquidation of 1.6 Lakh, with increase in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @27807 closed above it.
  • 31000 CE is having highest OI @5.3 Lakh resistance at 31000 followed 30800.30000-31000 CE added 4.4 Lakh in OI so bears added position in the zone of 30800-31000.
  • 30000 PE is having highest OI @6 Lakh, strong support at 30300  followed by 31000.30000-31000 PE added 10 Lakh OI so bulls making support in the range of 29700-29900.

Buy above 30250 Tgt 30400,30600 and  30800 (Bank Nifty Spot Levels)

Sell below 30050 Tgt 29975,29889 and 29791  (Bank Nifty Spot Levels)

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