Bank Nifty Bulls gave bounce back holding 24800,EOD Analysis

By | December 7, 2017 7:29 pm
  • As discussed in Last Analysis    Now tommrow being weekly expiry range of 24780-800 is very important, break of the range and we will fall till 24476 as we are trading below the gann angle. Bullish above 25100 only.  Bank Nifty bulls held on to 24800 and saw a good bounced back,but again failed to close above 25100, high made today was 25097. Bulls need a close above 25100 for a move towards 25370/25500.Bearish below 24780 only.     The ‘formula’ for trading Success :Consistency

  • Bank Nifty Dec Future Open Interest Volume is at 21.8 lakh with addition of 0.03 Lakh, with increase in Cost of Carry suggesting Long positions were added today. Bank nifty Rollover cost @25844, closed below it.
  • 26000 CE is having highest OI @9.7 Lakh resistance at 26000 followed 26500.24500-26500 CE added 0.80 lakh in OI so bears added position at higher level making strong resistance in range of 25000-25200.


  • 25000 PE is having highest OI @12.67 Lakh, strong support at 24800 followed by 24500.24500-26500 PE added  0.3 lakh in OI so bulls added position at lower level and conquered 25000 again.


Buy above 25080 Tgt 25144,25230 and 25350 (Bank Nifty Spot Levels)

Sell below 25000 Tgt 24920,24850 and 24700 (Bank Nifty Spot Levels)

Category: Daily

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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