Bank Nifty EOD Analysis for 18 Nov

  • As discussed in Last Analysis Bulls need to close above 30810 for a move back to 30950/31080/31200/31360. Bears will get active below 30610 for a move back to 30390/30240/30096. 31165 done near our target of 31200. Bulls were again unable to break 30200 zone. Bulls need to break 30200 for the upmove to continue towards 30450/30666. Bears have there chance below 30800 for a move back to 30555/30350.

  • Bank Nifty Nov Future Open Interest Volume is at 18 lakh with addition of 0.80 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @29919  closed above it.
  • 31500 CE is having highest OI @4.3 Lakh resistance at 31300  followed 31500.30000-32000 CE added 7.4  Lakh in OI so bears added position in the zone of 31300-31500.
  • 30500 PE is having highest OI @5.8 Lakh, strong support at 30500 followed by 30300.30000-32000 PE added 15.9 Lakh OI so bulls making support in the range of 30500-30300.

Buy above 31050 Tgt 31150,31310 and  31450 (Bank Nifty Spot Levels)

Sell below 30930 Tgt 30860,30700 and 30550 (Bank Nifty Spot Levels)