Bank Nifty Rallies holding gann angle,EOD Analysis

By | February 8, 2018
  • As Discussed in Last Analysis  Bulls need close above 25800 for a move towards 26020/26150/26280. Bearish below 25630 for a move towards 25510/25250.   Important intraday time for reversal can be at 10:11/12:31.  Low made today was 25637 so bulls protected 25630 and as soon as 25800 broken rallied all the way towards 26126 almost near our target of 26150. 10 Feb is important time cycle date effect can be seen tommrow or on Monday Bulls need a close above 26150 for the big move towards 26500/26893. Bearish below 25630 for a move towards 25510/25250 Important intraday time for reversal can be at 10:16/2:25   Global stock market turmoil:Nifty down 895 Points Post Budget

 

 

 

  • Bank Nifty Feb Future Open Interest Volume is at 20.4 lakh with liquidation of 0.60 Lakh, with increase in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @27248, closed below it and corrected 2248 points.
  • 26500 CE is having highest OI @3.5 Lakh resistance at 26500 followed 27000.26000-28000 CE added 0.62 lakh in OI so bears added position at higher levels.
  • 26000 PE is having highest OI @5.7 Lakh, strong support at 25600 followed by 25500.26000-28000 PE  added 0.57 lakh in OI still strong support at 25500-25600 .

 

Buy above 25950 Tgt 26040,26150 and 26290 (Bank Nifty Spot Levels)

Sell below 25850 Tgt 25760,25630 and 25450 (Bank Nifty Spot Levels)

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