Bank Nifty forms Inside Bar Last Trading Day of 2020

By | December 31, 2020
  • As Discussed in Last Analysis Bears were able to do 1 target on downside, we did not saw the big move as per expecation, possible we can see an explosive expiry. Now Bulls need to move above 31540 for a move back to 31777/31900, Bears below 31225 can see move back to 31036/30770. Bears need a close below 30999 for a positional short to be activated till than its buy on dips market. We had a Dull expiry with bank nifty forming an Inside bar candel. Plan remains the same Bulls need to move above 31540 for a move back to 31777/31900, Bears below 31225 can see move back to 31036/30770. Bears need a close below 30999 for a positional short to be activated till than its buy on dips market. Happy New Year 2021 Wishes to you!

  • Bank Nifty Jan Future Open Interest Volume is at 14.1 lakh with addition of 4.8 Lakh, with decrease in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @31230 closed above it.
  • 31500 CE is having highest OI @8.8 Lakh resistance at 31500 followed 31700.31000-32000 CE added 8 Lakh in OI so bears added position in the zone of 31000-30200.
  • 31000 PE is having highest OI @8.6 Lakh, strong support at 31000 followed by 30800 .29000-31000 PE added 18 Lakh OI so bulls making support in the range of 31000-31200.

Buy Above 31300 Tgt 31420,31529 and 31741 (Bank Nifty Spot Levels)

Sell Below 31250 Tgt 31111,31020 and 30932 (Bank Nifty Spot Levels)

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