Bank Nifty close above 16880,ready for Big move

By | December 23, 2015 7:22 pm
  • Bank Nifty broke 16880 level in intraday but was to close above it, Close above 16880 is important for move till 17031/17396 levels, We need to see if we get follow up move tomorrow as Bank nifty closed above 16880 .Trading Success Mantra:How We Handle Trading Fears


  • Bank Nifty December Future Open Interest Volume is at 18.8 lakh with liquidation of 0.74 Lakh with decrease in CoC suggesting long position closed today.Bank Nifty rollover cost coming @ 17158 closing below it fall continues .Can Traders make money in Stock market?
  • 17500 CE is having highest OI @6.3 Lakh strong resistance formation @17500. 17000 CE liquidated .22 lakh so bears liquidated  their positions as bank nifty  closed above 16882.16500-17500 CE liquidated 0.72 Lakh in OI.
  • 16000 PE is having highest OI @6.3 lakh, strong support at 16000 followed by 16500 PE .16000-17000 PE added 1.43 Lakh in OI aggressive addition was seen by Bulls.

Buy above 16900 Tgt 16977,17050 and 17166(Bank Nifty Spot Levels)

Sell below 16770 Tgt 16700,16570 and 16450(Bank Nifty Spot Levels)

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Category: Bank Nifty Technical Analysis

About Bramesh

Bramesh Bhandari has been actively trading the Indian Stock Markets since over 15+ Years. His primary strategies are his interpretations and applications of Gann And Astro Methodologies developed over the past decade.

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