Bank Nifty Aug Expiry Analysis

  • As discussed in Last Analysis    Bearish below 24200 for a move towards 24000/23800. Bank Nifty finally broke the range on downside and effect of time cycle was seen today combined with resistance at gann angle as shown in below gunner chart with the break of 24200 low made was 24103 and closed below 24200, so we can see move towards 23963/23830/23755. Bullish above 24510 only.  Bank Nifty opened with gap up above 24200 triggering sl for traders who went short and made high of 24388 still unable to break high of time cycle date of 24422, Bears will again get active below 24200 for a move towards 23963/23830. Bullish above 24510 only. Overcoming Emotions As A Day Trader

 

 

  • Bank Nifty Aug Future Open Interest Volume is at 12.7 lakh with liquidation of 1.91 Lakh, with increase in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @24665 closed below it.
  • 24500 CE is having highest OI @12.4 Lakh resistance at 24500 followed 25000. 23500-25000 CE added 3.8 lakh so bears position  in 24300/24500 CE.
  • 24000 PE is having highest OI @12.4 Lakh, strong support at 24000 followed by 23800, Bulls added 3.9 Lakh position in OI in range of 24000-26000.

Buy above 24330 Tgt 24380,24450 and 24520(Bank Nifty Spot Levels)

Sell below 24230 Tgt 24170,24100 and 24000 (Bank Nifty Spot Levels)

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