Bank Nifty Holds 27000,After Fed Rate Hike

By | December 21, 2018 12:02 am
  • As Discussed in Last Analysis  High made today was 27364 so we achieved our next target of 27360 and till we are holding 27200 we should move towards next target of 27504/27666. Bears will get active below 27100 for a move towards 26920/26784/26640/26496/26352.  Low made today in opening was 27081 so bulls held on to 27200 on closing basis. Bears will get active below 27051 for a move towards 26920/26784/26640/26496/26352. Bulls will get active above 27316 for move towards 27504/27666 Important intraday time for reversal can be at 1:37.  How to Deal With Fear in Trading

  • Bank Nifty Dec Future Open Interest Volume is at 15.6 lakh with liquidation of 0.33 Lakh, with decrease in Cost of Carry suggesting long positions were closed  today. Bank nifty Rollover cost @26532 closed above it.
  • 27500 CE is having highest OI @7.1 Lakh resistance at 27500  followed 27800.  26000-28000 CE added 10.6 Lakh in OI so bears added minor  position  in the zone of 27300-27500.
  • 26500 PE is having highest OI @7.9 Lakh, strong support at 26800 followed by 27000.26000-28000 PE added 11.8 Lakh OI so bulls making strong support in the range of 26800-27000.

Buy above 27316 Tgt 27370,27444  and 27520(Bank Nifty Spot Levels)

Sell below 27220 Tgt 27150,27070 and 27000 (Bank Nifty Spot Levels)

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