Bank Nifty Analysis for 18 Nov

  • As Discussed in Last Analysis  Now bulls need to move above 28525 for a move back to 28666/28756/28900, Bears below  28343 can see a fall towards 28229/28111. All Bullish target done as we have Importast Astro and Gann date sugesting another 500 points move coming once yesterday high or low is brokenBull need to move above 29250 for a move back to 29372/29555/29700. Bears will get active below 28970 for a move back to 28856/28531/28340.

  • Bank Nifty Nov Future Open Interest Volume is at 18.1 lakh with liqudiation of 0.06 Lakh, with decrease in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @24264 closed above it.
  • 29300 CE is having highest OI @10 Lakh resistance at 29300 followed 29500.27000-29500 CE added 12.1 Lakh in OI so bears added position in the zone of 29000-29500
  • 28000 PE is having highest OI @12.1 Lakh, strong support at 28000 followed by 27800.27000-28000 PE added 22 Lakh OI so bulls making support in the range of 28000-28300.

Buy Above 29250 Tgt 29372,29500 and 29700 (Bank Nifty Spot Levels)

Sell Below 29110 Tgt 28980,28856 and 28666 (Bank Nifty Spot Levels)

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