NIFTY BANK Trend Technical Analysis


  • As Discussed in Last Analysis  High made today was 27713 so bulls unable to cross 27740 and bears also unable to break 27360 we formed inside day pattern also 12 Jan is important Astro Date suggesting big move round the corner.Bull will become active above 27556 for a move towards 27648/27740/27889. Bearish below 27360 for a move back to 27225/27100. Bank Nifty opened with gap up quickly came down below 27656 and also unable to break 27360 as low made was 27382, Intraday traders who used twitter levels would have made some money.Bull will become active above 27610 for a move towards 27740/27889. Break of any side can give easily 150-200 points, Bearish below 27360 for a move back to 27225/27100. Today’s High and Low are IMportant Intraday time for reversal can be at 10:08/12:07/2:52. How To NOT Blow Up Your Trading Account

  • Bank Nifty Jan Future Open Interest Volume is at 19.6 lakh with liquidation of 0.72 Lakh, with decrease in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @27033 closed above it.
  • 28000 CE is having highest OI @4.4 Lakh resistance at 27800  followed 28000.  26000-28000 CE added 0.84 Lakh in OI so bears added small position  in the zone of 27900-28000.
  • 27500 PE is having highest OI @8.4 Lakh, strong support at 27400 followed by 27100.26000-28000 PE added 0.92 Lakh OI so bulls making strong support in the range of 27300-27500.

Buy above 27490 Tgt 27610,27720 and 28810 (Bank Nifty Spot Levels)

Sell below 27410 Tgt 27360,27250 and 27125 (Bank Nifty Spot Levels)

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