Bank Nifty continue to rally holding 18250,EOD Analysis

By | January 10, 2017 10:24 pm
  • As discussed in Last Analysis   Holding the same bank nifty can move towards 18500/18700. Bearish below 18250 for a move towards 18000. Expect a Big move in bank nifty as per time cycle in next 2 trading sessions. Bank Nifty made low of 18275 again protecting 18250 and made high of 18441 and mostly target of  18500 should be done tomorrow. Bank Nifty close above 18500 can move to next resistance zone of 18739. Bearish only below 18250. Paul Tudor Jones explaining Why FAILURE is important

  • Bank Nifty Jan Future Open Interest Volume is at 19.8 lakh with addition of 0.73 lakh, with increase in Cost of Carry suggesting Long positions were added today. Bank nifty rollover @66.9 and Rollover cost @17905 closed above it.
  • 18500 CE is having highest OI @7.2 Lakh resistance at 18500. 17500-19500 CE saw addition of 1.9 lakh in OI so bears added in 19000 CE suggesting 18500 could be broken as 18250 has been broken from past 2 days.
  • 18000 PE is having highest OI @ 7.7 Lakh, strong support at 18000 followed by 17500, Bulls added 1.77 Lakh in OI in range of 17500-19500 PE.

Buy above 18480 Tgt 18540,18640 and 18740 (Bank Nifty Spot Levels)

Sell below 18370 Tgt 18310,18220 and 18150 (Bank Nifty Spot Levels)

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