Bank Nifty EOD Analysis for 28 Dec

  • As Discussed in Last Analysis Till Bank Nifty Bulls are holding 29730 rally can continue till 30067/30250/30444. Bears have there chances below 29729 for a move back to 29572/29280. All Bullish target done above 29730,so bulls were able to ride the whole move towards 30444. We are heading back to gann angles again and Moon at Ascending Node again suggesting another volatile move coming. Now Bulls need to move above 30555 for rally towards 30666/30830/30999. Bears will get active below 30250 for a move back to 30091/29780. 

  • Bank Nifty Nov Future Open Interest Volume is at 13.9 lakh with liquidation of 0.86 Lakh, with increase in Cost of Carry suggesting short positions were closed today. Bank nifty Rollover cost @29413 closed above it.
  • 30600 CE is having highest OI @12.8 Lakh resistance at 30600 followed 30800.29000-31000 CE added 12 Lakh in OI so bears added position in the zone of 30000-30300.
  • 30000 PE is having highest OI @10.6 Lakh, strong support at 30000 followed by 29800 .29000-30000 PE added 15 Lakh OI so bulls making support in the range of 29200-29000.

Buy Above 30530 Tgt 30629,30856 and 30999 (Bank Nifty Spot Levels)

Sell Below 30343 Tgt 30225,30100 and 29855 (Bank Nifty Spot Levels)

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