Nifty Bank EOD Analysis for 25 Sep

  • As Discussed in Last Analysis; Now Bulls need a close above 30700 for the upmove to continue towards 31000/31360/31600. Bears will get active below 30370 for a move back to 30000/29800/29500. Till we are holding 29971 we can rally towards 31800-32000. Bears were able to reach 30000 below 30370. Bulls need to protect the 29791 vedic number for this uptrend to continue towards 31000/31800. Now Bulls need a close above 30300 for the upmove to continue towards 30544/30672/30800. Bears will get active below 30050 for a move back to 29900/29791/29600.

  • Nifty Bank Sep Future Open Interest Volume is at 10.6  lakh with a liquidation of 1.6 Lakh, with an increase in the Cost of Carry suggesting long positions were closed today. Nifty Bank Rollover cost is @27807 and closed above it.
  • 31000 CE is having a highest OI @5.3 Lakh, resistance at 31000, followed by 30800. 30000-31000 CE added 4.4 Lakh in OI, so bears added positions in the zone of 30800-31000.
  • 30000 PE is having a highest OI @6 Lakh, strong support at 30300, followed by 31000. 30000-31000 PE added 10 Lakh OI, so bulls are creating support in the range of 29700-29900.

Buy above 30250 Tgt 30400,30600 and  30800 (Nifty Bank Spot Levels)

Sell below 30050 Tgt 29975,29889 and 29791  (Nifty Bank Spot Levels)