Bank Nifty Crashes below 18000,EOD Analysis

  


Bank Nifty Crashes below 18000,EOD Analysis – Bramesh’s Technical Analysis

  •  As discussed in last analysis  We got the big move as per expectation and we did almost 1000 points from 19040. Now Bears need to break 18000 for a move towards 17576/17300/17000. BUlls will get active above 18600 for a move back to 18900/19044/19300. 17300 done below 18000, Bears will get active below 17100  bears can see fall towards 16900/16641/16384. Bulls need to move above 17576 for a move back to 17956/18225/18500.

  • Bank Nifty April Future Open Interest Volume is at 98 lakh with addition of 1 Lakh, with decrease in Cost of Carry suggesting short positions were closed today. Bank nifty Rollover cost @17939 closed above it
  • 18500 CE is having highest OI @20  Lakh resistance at 18500 followed 19000.18500-20000 CE added 11 Lakh in OI so bears added position in the zone of 18500-19000.
  • 17000 PE is having highest OI @14 Lakh, strong support at 17500 followed by 17000.17000-19000 PE added 13 Lakh OI so bulls making support in the range of 17000-18000.

Buy above 17411 Tgt 17572,17734 and  17900(Bank Nifty Spot Levels)

Sell below 17000 Tgt 16820,16550 and 16390  (Bank Nifty Spot Levels)





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