Bank Nifty Analysis for 27 Nov

  • Bank Nifty moved today the way which causes maximum pain to maximum participants.We have trading holiday on Monday and as most of world market are closed due to THANKS Giving we will see Light trading volumes and less volatlity. Bulls need to move above 29650 for a move back to 29781/29999/30150. Bears below 29450 can fall back to 29250/29100/29000.

  • Bank Nifty Nov Future Open Interest Volume is at 13.9 lakh with addition of 4.1 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @29413 closed above it.
  • 30000 CE is having highest OI @22 Lakh resistance at 30000 followed 30200.29000-31000 CE added 12.1 Lakh in OI so bears added position in the zone of 30000-30500
  • 29000 PE is having highest OI @13.1 Lakh, strong support at 29300 followed by 29000.28000-29000 PE added 12 Lakh OI so bulls making support in the range of 29000-29300.

Buy Above 29650 Tgt 29781,29999 and 30150(Bank Nifty Spot Levels)

Sell Below 29450 Tgt 29300,29150 and 29000 (Bank Nifty Spot Levels)

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