Bank Nifty does 27000,EOD Analysis

By | January 22, 2018
  • As Discussed in Last Analysis  Bank Nifty bulls gave indication yesterday with close above 26530, almost nearing the final target of 27000.  We have PRZ zone of ABCD pattern near 27000 and also gann angle resistance at 27266 and Gann Circle also getting completed at 26175. So Traders carrying long should use this range for booking profits. Bearishness will creep in only below 26500 levels for a move towards 26175/26000. 21 Jan is again very important time cycle date. Bank Nifty closed above 27000, Holding 26780 bulls have upper hand and can push index towards 27300, Range of 27300-27311 is gann angle resistance. Bulls can take fresh position above 27050 for a move towards 27175/27300. Bearish below 26780 for a move towards 26500-26250. We were able to capture the whole move from 25500 till 27000, beauty of gann price time analysis.   4 Short Stories that Will Change the Way You Think

 

 

  • Bank Nifty Jan Future Open Interest Volume is at 23.1 lakh with liquidation of 0.82 Lakh, with decrease in Cost of Carry suggesting long positions were closed today. Bank nifty Rollover cost @25671, and closed above it and zoomed 1400 points.
  • 27000 CE is having highest OI @7.8 Lakh resistance at 27300 followed 27500.26000-25700 CE added 6.73 lakh in OI so bears added position in 27400-27600 CE.

 

  • 26500 PE is having highest OI @8.2 Lakh, strong support at 26500 followed by 26300.26000-27000 PE  added 2.4 lakh in OI strong support at 26300-26400.

 

Buy above 27080 Tgt 27130,27210 and 27330 (Bank Nifty Spot Levels)

Sell below 26970 Tgt 26900,26830 and 26750(Bank Nifty Spot Levels)

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