Bank Nifty EOD Analysis for 20 Nov

  


  • As discussed in Last Analysis   Bulls need to break 31050 for the upmove to continue towards 31200/31450/31666. Bears have there chance below 30850 for a move back to 30730/30555/30350. Bank Nifty did 31200 and has closed above 31200 heading towards 31329/31450/31666/31800. Bears will get active below 30950 for a move back to 30720/30500.

  • Bank Nifty Nov Future Open Interest Volume is at 19 lakh with addition of 1.1 Lakh, with increase in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @29919  closed above it.
  • 31500 CE is having highest OI @5.3 Lakh resistance at 31300  followed 31500.30000-32000 CE liquidated 3.9 Lakh in OI so bears covered  position in the zone of 31300-31500.
  • 30500 PE is having highest OI @9.3 Lakh, strong support at 31000 followed by 30800.30000-32000 PE added 16 Lakh OI so bulls making support in the range of 30500-30300.

Buy above 31250 Tgt 31329,31490 and  31688 (Bank Nifty Spot Levels)

Sell below 31150 Tgt 30050,30900 and 30720  (Bank Nifty Spot Levels)

Follow on Twitter:https://twitter.com/brahmesh

Follow on Facebook https://www.facebook.com/Brameshs-Tech-14011718268586

Youtube Channel: https://www.youtube.com/channel/UCxTIpotKybyOQIDsS3eEqhQ





Source link