Will Bank Nifty break 19158 or 19367 for next move ?

By | August 25, 2016
  • 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. Low made was 19282 , High near 1932, Bank Nifty bears unable to break 19158 and Bulls were unable to close above 19367 suggesting fight is on in between both of them, Bulls need a close above 19367 and bears below  19158.Price are near the gann vertical line as shown in below chart suggesting impulsive move is round the corner.  What separates amateur traders from the professional trader

bank nifty _new

  • Bank Nifty September Future Open Interest Volume is at 19.9  lakh with addition of 6.4 lakh, with rise in Cost of Carry suggesting long positions were added today. Bank nifty Rollover is @ 71.8 % and Rollover cost at 19450 Do you know your Risk of Ruin in trading ?

 

Buy above 19400 Tgt 19480,19550 and 19680(Bank Nifty Spot Levels)

Sell below 19240 Tgt 19190,19100  and 19000 (Bank Nifty Spot Levels)

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4 thoughts on “Will Bank Nifty break 19158 or 19367 for next move ?

  1. Shivanya Jain

    I must say you’ve done a fantastic job with this. Also, the blog loads very quick for me,Exceptional blog and terrific style and design.

  2. Vijay

    Hi Bramesh,

    In the 1st para, you wrote “Low made was 19282 , High near 1932”. I believe it should read “Low made was 19282 , High near 19432”.

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