Bank Nifty fires above 19360,EOD Analysis

  • As discussed in Last analysis  Bulls need close above 19367  for target of 19650/19766, Bears below 19000 for target of 18800/18500. Till 19158 is not broken its buy on dips market.Sustaining above today’s high of 19250 bank nifty can make other move towards 19367 and close above it momentum will again come in bulls favor. Low made was 19306 , High near 19546, Bank Nifty bulls broken 19367 sustained above it and saw a big impulsive move. Now bulls should sustain above 19367 for move towards 19650-19700. Close above 19700 on Weekly basis can see bank nifty moving towards all time high.   How to recover from Losing Streak

bank nifty slanting linve

 Bank Nifty Hourly
  • Bank Nifty Sep Future Open Interest Volume is at 26.1 lakh with addition of 4 lakh, with rise in Cost of Carry suggesting long positions were entered today. Bank nifty closed below Rollover cost  19450 closed above it,rallied 200 points.  Do you know your Risk of Ruin in trading ?
  • 20000 CE is having highest OI @7.9 Lakh resistance formation @20000. 18500-20500 CE saw 5.5 lakh addition in OI so bears added heavily in 20000-21000 CE.
  • 19000 PE is having highest OI @6.6 Lakh, strong support at 19000 followed by 18800, Bulls added 2.1  Lakh in OI in 19500-19800 PE  so bulls making support in zone of 18800-19000 zone.

Buy above 19550 Tgt 19640,19701 and 19850 (Bank Nifty Spot Levels)

Sell below 19450 Tgt 19380,19320  and 19220 (Bank Nifty Spot Levels)

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  1. Bramesh said:

    yes sir..

    August 31, 2016
  2. amit said:

    >> Bulls added 2.1 Lakh in OI in 19500-19800 PE
    Dear Sir, Is this correct ?

    August 31, 2016
  3. sandeep said:

    Hi sir,

    if you see the run up from past 2-3 months, there is huge white candle and then flat for few days [ time correction than price correction ]. So today we got big candle, so would be follow up move tomorrow or by this friday.

    August 30, 2016

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