Bank Nifty show small upmove Holding time cycle low

By | February 13, 2018
  • As Discussed in Last Analysis  Another gap down, Bank Nifty chart has become a chart of mid caps stocks trading only in gaps but that’s how volatility plays. Today’s high and low of minor time cycle date very important break any side we can see move of 300-400 points. Bank Nifty bulls now need close above 25581 for a up move towards 25700/25900. Bearish below 25370 for a move towards 25250/25010. Bank Nifty did the first target of 25700 and now waiting for the next target of 25900/26150. Big breakout will be see above 26150 for a fast move towards 26500. We got 150 points move from time cycle high as discussed. Bearish below 25600 for a move towards 25510/25270/25250.   Important intraday time for reversal can be at 10:59/12:20  Trader needs to be Adaptive

 

 

 

  • Bank Nifty Feb Future Open Interest Volume is at 19.8 lakh with addition of 0.02 Lakh, with decrease in Cost of Carry suggesting long positions were added today. Bank nifty Rollover cost @27248, closed below it and corrected 2248 points.
  • 26000 CE is having highest OI @4.2 Lakh resistance at 26000 followed 26500.25000-27000 CE added 2.3 lakh in OI so bears added position at higher levels.
  • 25000 PE is having highest OI @5.1 Lakh, strong support at 25000 followed by 25300.25000-27000 PE  added 0.78 lakh in OI still strong support at 25500-25600 .

 

Buy above 25750 Tgt 25811,25920 and 26010 (Bank Nifty Spot Levels)

Sell below 25640 Tgt 25555,25485 and 25375 (Bank Nifty Spot Levels)

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