Bank Nifty continue the upmove holding 20500,EOD Analysis

By | February 20, 2017 7:48 pm
  • As discussed in Last Analysis   Now as we closed above 20500 we can see another move towards 20750/21000. Bearish below 20350  for a move towards 20150/20000. Low made today was 20472 and high made was 20702 so bank nifty is moving towards target of 20750. Any close above 20750 can see move towards 21000 and fresh new highs in range of 20300-20500. Bearish only on close below 20350. What to Do after Trade is completed

  • Bank Nifty Feb Future Open Interest Volume is at 26.4 lakh with addition of 0.73 lakh, with decrease in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @19080.
  • 21000 CE is having highest OI @10.8 Lakh resistance at 20700 followed by 21000. 20000-21000 CE saw addition of 1.8 lakh in OI so bears added in 20500-21000 CE.
  • 20000 PE is having highest OI @9.8 Lakh, strong support at 20500 followed by 20000, Bulls added 8.8 Lakh in OI in range of 20000-21000.

Buy above 20700 Tgt 20760,20850 and 20990 (Bank Nifty Spot Levels)

Sell below 20600 Tgt 20540,20450 and 20300 (Bank Nifty Spot Levels)

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