Bank Nifty Ready for Big Move,EOD Analysis

By | December 19, 2019 9:41 pm
  • As discussed in Last Analysis  We should see another big move in bank nifty in next 2 days as per time cycle. Bears have there chance below 31980 for a move back to 31887/31710/31621/31532. Till we are holding 32100 bank Nifty can rally towards 32351/32461.Bears have there chance below 32041 for a move back to 31887/31710/31621/31532. We should see good move in bank nifty as per time cycle.

  • Bank Nifty Dec Future Open Interest Volume is at 12.5 lakh with liquidation of 0.38 Lakh, with decrease in Cost of Carry suggesting short positions were closed today. Bank nifty Rollover cost @31829 closed above it.
  • 32500 CE is having highest OI @4.1 Lakh resistance at 32300  followed 32500.30000-32000 CE added 8 Lakh in OI so bears added position in the zone of 32300-32500.
  • 32000 PE is having highest OI @6.1 Lakh, strong support at 32000 followed by 31800.30000-32000 PE added 7.8 Lakh OI so bulls making support in the range of 31800-32000.

Buy above 32286 Tgt 32375,32465 and  32556  (Bank Nifty Spot Levels)

Sell below 32180 Tgt 32080,31910 and 31800 (Bank Nifty Spot Levels)

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